While on a mission to retrieve a valuable painting from a sunken U-boat, the Black Lagoon is besieged by missile-firing neo-Nazis.

After finding the painting on the sunken sub, Rock and Revy argue over looking for more loot while the neo-Nazis' own divers approach the wreck.

Dutch and Revy's violent raid on the neo-Nazi ship leads to surprising revelations about Revy and the Black Lagoon's mission to recover the painting.