Seaview is under polar ice, trying to discover the cause of increased flooding around the world. Nelson finds out that Frost Men are in the process of melting the ice cap. The Seaview's reactor is just what they need to finish the job.
The ghost of Blackbeard is alive and well, and he wants the Seaview and her crew. The pirate 'drafts' Kowalski, who makes a very convincing and quite blood-thirsty buccaneer. Nelson and Crane have their hands full trying to protect the President of the United States (a guest of a Middle Eastern Shah on a nearby yacht), and regain control of their ship.