Jim Jacobs and Nick Carlton, childhood friends, are CIA operatives on a sting operation in Chechnya. The raid of a rebel militia group goes bad and the entire teams gets wiped out except for Jim and Nick, who manages to save them both. Five years later, they are out of the CIA game.

An oceanic observation station is in desperate trouble after a sudden shark attack wrecked the oxygen supply. The accompanying ship, a coast guard cruiser, and other ships in and around the Bermuda triangle are attacked as well. The US Navy sends a submarine to investigate, but soon they too are under attack.