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The new series opens with news that Albert Frazer has died and James in a foul mood with life and everyone around him. Petroleum has begun to be shipped to the UK from America, though how to transport the fuel is in dispute: barrels, or in bulk. Robert smells profit from this new cargo. The Helen May, a Frazer steam vessel carrying petroleum sinks entering the Mersey in dense fog: The barrels have leaked and explodes when the crewman watching the cargo carries a kerosene lantern in the fumes against orders. James, under sail and also returning home, refuses to put a boat out for survivors - claiming it has gone down with all hands.