Preston and Harbuckle struggle to free themselves from their bonds, adrift in the slowly sinking rowboat. Harbuckle signals to Preston to roll over so Harbuckle can untie his bonds, but when Preston shifts his weight, water pours into the little boat. Harbuckle manages to untie Preston’s bonds underwater, but almost drowns when the dim-witted Preston nearly forgets to save Harbuckle. However, the Never Land rescues them after Peter spots them at sea.

Slank questions Preston and Harbuckle. After they reveal that Black Stache is after the Wasp, Slank has the pirates thrown in the brig.

Peter goes to Molly, knowing her father is on the Wasp and assuming she must be worried. Peter asks Molly about the trunk, and Molly tries to warn him, but Mrs. Bumbrake interrupts them. Peter overhears a group of sailors discussing the floating rat. Alf believes the story because of the floating feeling he had when he touched the trunk. Peter tells Alf that he also believes, and Peter and Alf confess their mutual desire to know what the trunk contains.