As co-owners of a tramp steamer in the Caribbean, Felix (Robert Mitchum) and Tony (Jack Lemmon) make their living as small-time smugglers. But with the arrival of the sultry Irena (Rita Hayworth), the partnership is threatened when, even as Felix warns him that she's no good, Tony wants to marry her. To disrupt any chance of romance -- and to keep Irena for himself -- Felix double-crosses his partner with the police, forcing Tony to escape on a cargo ship. But when an explosion on board traps Tony, only Felix can save him. And once they make their way back to shore, Irena makes her feelings for Felix clear and leaves it up to Tony to give them his blessing.