The book begins with Tanis Half-Elven in Flotsam. Kitiara has recently left for Solamnia to lead the Dragonarmies in their failed attack against the High Clerist's Tower, which was depicted in the previous novel and resulted in the death of Sturm Brightblade. Tanis returns to the other companions, being watched by the draconian Gakhan, Kitiara's personal assassin. Returning to his friends (Goldmoon, Riverwind, Tika Waylan, Caramon and Raistlin Majere), Tanis tells them the half-truth that he was mistaken for an officer by an unspecified Dragon Highlord and forced to continue the impersonation for his own safety.
Later on, the companions depart to Kalaman via Blood Sea of Istar by the ship Perechon, where the mysterious Berem (also called "the Everman" and "the Green Gemstone Man") works as a helmsman. Kitiara leads her forces and her dragon Skie to follow The Perechon. Evading pursuit, Berem steers the ship straight towards the whirlpool at the center of the sea, which was formed over the ruins of Istar city during the Cataclysm. Eventually Kitiara is unable to follow them, but The Perechon is caught in the whirlpool and the heroes realize they're doomed. Raistlin uses his Dragon Orb to teleport away, leaving the rest of his companions behind. Soon afterward, the Perechon tips over the edge of the whirlpool and the rest of the companions vanish beneath the waves.