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The 1970s style film follows a group of twenty-something's who charter a boat to Fiji for the trip of a lifetime, before stumbling upon an evil that demands vengeance at any cost.
The film has sold to over 38 countries including the United States, Great Britain, Germany and most of Asia with worldwide sales receipts now in the millions of dollars.
A group of tourists: Chris, a wealthy American; Tate, Chris's temperamental fiancé; Kathy, an ex-nurse haunted by recurring nightmares of a young girl who died in her care; her boyfriend Zane; Big Dave, the owner and captain of a luxurious yacht; and his wife Suze set sail on a leisure trip to Fiji.
The voyage is interrupted when they respond to a distress signal from a nearby vessel, and rescue its sole surviving crew member ("The Greek").
Unbeknownst to the group, The Greek is possessed by the malevolent spirit of a man who seeks to cheat death by using an enchanted dagger to swap souls with a succession of new hosts. The Greek attacks Zane, taking control of his body, before embarking on a murderous rampage of which Kathy, Zane (now trapped in The Greek's dying body) and Tate (who is ultimately possessed by the spirit) are the only survivors.
Kathy and Zane escape after the girl from Kathy's dream visits her and reveals the spirit's origin and how to defeat it: The spirit cannot possess money, as this would compel it to pay the fare which would allow the titular Ferryman to convey it into the afterlife.
Kathy tricks the possessed Tate into accepting a coin that the girl gave her. The Ferryman appears and claims the spirit, before disappearing into the darkness.
The final scenes show Kathy in Fiji, luring a man she meets at a party back to her room, so that Zane can use the dagger to transfer his soul into the man's body.