The tale begins on the freighter Dragon King, which has been taken over by a motley band of good-for-nothings looking to get their hands on the cargo of gold the ship is carrying. The passengers and crew, their legs bound by shackles and chains, are gathered on deck, where they are gleefully massacred by the thieves. With the witnesses dead and the gold theirs, the murderous thugs set the Dragon King drifting out across the vast Pacific.