Captain Baines leaves the Onedin Line and, with Tom aboard, collects his first cargo as owner of the 'Sea Spray'. James suffers as some clients will only trust their freight to his old ship-mate and the vengeful Van Der Rheede - who is out to break him - calls in the debt sold on by Samuel, who returns from New York with a wealthy American bride. To compound matters Charlotte arrives back in Liverpool as a music-hall singer. Ultimately, though, it is Captain Baines who pays the price of pride as his ship blows up, killing Tom.