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 an area that served as a graveyard for some of the ships Raleigh had wrecked. Upon Sly's entry, Raleigh contacted his guards via the P.A system, commending them on a job well done unloading some cargo the night before. He then informed them about Sly's trespassing and told them to protect the treasure key or face the consequences should they fail to do so.
This one was cake. Input 7-1-9.
Behind the scenes
According to the bonus commentary, there was originally going to be a giant fish that would serve as a miniboss for this level.