Again written and directed by Joone, it stars Belladonna, Sasha Grey, Jenna Haze and Ben English, as well as Tommy Gunn, Jesse Jane, Steven St. Croix and Evan Stone, who reprise their roles from the first film.
At the beginning, Captain Edward Reynolds is bragging about his victory over the dreaded pirate Victor Stagnetti to his loyal companion Jules; he has even assembled a new crew for his ship, including Ai Chow and Olivia, Serena’s cousin. It is Olivia who informs the crew that the governor of Jamaica has ordered Serena’s arrest and Olivia is on board to protect the crew from enemies, and to convince Edward and Jules to ask for Serena’s pardon. When they finally go to Jamaica and ask Governor Littleton to pardon Serena, he is more interested in Jules’ appearance than anything else. They convince the governor, who first sends them on a mission to kill another group of pirates and find another hidden treasure.

Olivia and Jules get off to a rocky start to their friendship, but eventually end up in a steamy lesbian experience. Later, Edward comes across Takvor, the Armenian gold pirate, during a female slave auction and is invited to participate in an orgy featuring belly dancers and slave girls.

Meanwhile, Jules is captured by the Chinese pirate empress Xifeng and given some sort of poison that causes her to seduce Edward, allowing him to be captured by the Xifeng too. He is then forced to fight a dragon-like creature, but Olivia saves him at the last minute.