While spending a week on the Bone Rattler, a ship that is not exactly ship-shape, the pirates-in-training get stuck in Shipwreck Pass and must come up with a creative plan to save the Bone Rattler and find the treasure Captain Stinky Beard seeks.
While on lookout duty, the students of Pirate School spy a ghost ship following them, and when they bravely board it they receive a warning that may save their lives, if only they can convince Rotten Tooth or the captain that danger lies ahead.