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To safeguard a priceless national treasure, the Greek government has requisitioned the luxury cruise liner, Argo Thetis, for use as an undercover cargo carrier.
The plan falls apart when the cruise ship is attacked by a submarine belonging to a fanatical billionaire art collector, Elgin Bates.
During the assault a fuel tank is ignited, blasting a gaping hole in the ship's hull.
Oxygen is now the most valuable commodity for the surviving passengers and crew, trapped in an airtight compartment below decks. as the oxygen decreases, the massive ship succumbs to the pull of the ocean, dropping ninety feet down and crashing onto a ledge overhanging one of the deepest track in the Aegean Sea.
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