Ahoy, dock hands! Capital job unloading that cargo last night. You're the crown jewel of my operation. Do me the service of proving your worth yet again by protecting the Treasure Key that I have stored down there. It appears there is a prowler on the premises. And if any of you let him get his hands on that key, I'LL PERSONALLY FLOG THE LOT OF YOU, FOR AN ENTIRE FORTNIGHT!
― Raleigh over the PA system[src]
Sly entered Raleigh's wrecked ship graveyard, a place where the evil frog kept some of the wrecked ships he destroyed as collectible items. Upon Sly's entry, Raleigh came on the P.A system to warn his guards about Sly's trespassing and told them to protect the treasure key.
The area was flooded with water full of debris from the wrecked ships. Sly had to venture through the maze of debris in order to collect this key..
This one was cake. Input 7-1-9.
- According to the bonus commentary for this level, there was originally going to be a miniboss, which would be a giant fish, but it was cut in the final release.
- The glowing tentacle-like eyeball seen in the glass container that Sly must sneak around is Ropen Lopen, one of Sir Raleigh's oldest pets.