The episode starts at the Krusty Krab, where Squidward is eager to leave early. By then, a defective storm dashes upon Bikini Bottom, and the Krusty crew is stuck inside the building. Until then, Mr. Krabs decides to share one of his stories about a time when a gusty wind tossed around his cargo ship. Mr. Krabs was cooking up some food for his crew, and during his cookery, Captain Scarfish bursts into the kitchen telling Mr. Krabs to refrain from making delicious food, and to keep the crust on the bread. He was explaining to him that he has a cargo load full of sun tan lotion. Soon into the story Mr. Krabs brings in a load of slob for the hungry fish.
After seeing the poorly-looking fish eating the slob, Mr. Krabs determines to turn the nourishment into a tasty treat, which gets seen by the captain and decides to send him to jail. After sharing about his horrible journey to prison, Mr. Krabs gives the foolish guard an assignment to make a cathedral of cotton candy, so that he can snatch a piece while he's distracted and form a key to unlock the cell. At that moment, Mr. Krabs made a wise decision until he saw that the jail was being under hostage by the pirates. He knew he had to act fast, so he unlocked his way out, and told the crew to wake up. Mr. Krabs was on his own, he had to poke holes in the barrels of sun tan lotion to keep the other fish on the island alive. While threatened to be attacked, the guard used piles of moldy crust to form canon balls to shoot at the ship. After the pirates sail sunk down, SpongeBob poked holes in the barrels of suntan lotion to keep the other fishes on the island from getting disintegrated. The fish soon revived, and swam upon the cargo, to capture the pirates. The episode ends off with the pirate put behind bars, and Mr. Krabs giving her a pie with a key molded from cotton candy, and Mr. Krabs and SpongeBob continuously winking at each other.
The character look-a-likes in this episode might not have been what the characters actually looked like. Mr. Krabs may have just used characters he knew in the present day to make the story more relatable.
Running Gags: Someone getting putting in "the brig" and using a sweet key.
Captain Scarfish's self-portrait painting is similar to Squidward's self-portrait painting in "Bubble Buddy Returns." Both was also resemble Napoleon Bonaparte.
The ship shown during Mr. Krabs' story is probably the S.S. Diarrhea.
It is unknown what happened to Captain Scarfish after he was washed ashore by the suntan lotion.
It is unknown how the Pirate Queen was able to breathe underwater, as she appears to be a squirrel without an air helmet.
She may not have actually been a squirrel. Mr. Krabs may have just used Sandy's appearance to make the story more relatable.
Mr. Krabs stated he could not smell any money in a 5 mile radius. This would be impossible because he has his cash register and safe which are both usually filled with money.
Mr. Krabs explains in "Shell of a Man" that he worked in the navy along with his navy buddies. However, In this episode, Mr. Krabs is not wearing his navy uniform that he showed in "Shell of a Man," his boat does not look the same in the picture, none of his shipmates are there, and his name was not "Armor Abs Krabs," he was a chef on a suntan lotion boat.
It is possible that this could be a different story apart from Mr. Krabs' navy days.
None of the suntan lotion got in the marooned sailors's eye, which doesn't make sense, because their eyes were opened and didn't burn.