The "Astoria", an English luxury liner, collides with a freighter shortly before the end of its voyage and threatens to sink. Captain Mitchell, successful and envied, sets in motion an expensive rescue operation. He manages to avert a catastrophe and bring the passengers and the ship to safety. But the shipowner considers the operation excessive, calls Mitchell a coward and fires him. His career seems to be over. When his friends and his fiancée also make fun of him, he devises a cunning plan of revenge.