The episode begins with the wake of Red Ted, a dock worker who was murdered. Jimmy and Kevin are there, and Frank and Rachel arrive. Frank walks over to a man, Billy, asking him when they let him out. Billy tells him to piss off. After the wake, Jimmy tells Frank to get lost and if he's got anything to say to him, say it to his union rep, Harry.
Later that night, Frank is on board a ferry. He talks to Billy, who is again unhappy to see him. Frank subtly suggests that he killed Red Ted, but Billy denies it. Frank tells him that there could be a big reward if someone decides to help the police; Billy just walks away.
The divers are in the water, looking for a missing diver. They find him - he's dead and they bring him to the surface. At the station, the radio operator tells Jeff about the diver. He looks across at the dead man's wife. Dave and Terry, in the meantime, check out the diver's equipment and Jeff and Fiona inform his wife, Mrs Healy.
Rachel and Frank talk to the union rep, Harry, to discuss Red Ted's murder. After he was murdered, a container of scotch was somehow stolen. Kevin arrives at the station. Rachel asks Frank if Kevin could talk to Jimmy, just as Kevin walks in to their office. Kevin says "Jimmy wouldn't say goodbye to me if I was lying on a slab". When Kevin offers to help, Frank leaves, saying that he'll work better by himself. Kevin sighs, and sits down near Rachel. He tells her that Frank has been out every night trying to get Red Ted's killer. He then asks her if she feels like eating something other than McDonalds, and they leave.
At night, Frank walks home, just in time to see Rachel about to leave his house. She swears to herself as she closes the front door.
Tommy and Gavin are down at the wharves early in the morning, with Tommy's father who is a fisherman. The Rispoli family go by in their boat, yelling out, and one of the men moons them. Tommy's dad tells him to go after them.
Rachel arrives at work and things are awkward between her and Frank. She starts to explain to him what happened, but Frank says it's none of his business what she or Kevin do after hours. Frank then gets an anonymous phone call. He says to Rachel that he needs someone to cover his arse, but she wouldn't be interested. "Ha ha" she says to him and follows; someone called with information about Ted's killer.
At the warehouses at Walsh Bay, Rachel and Frank look through some drums. Inside one of them, there is a note that says 'Security'. Back at the station, Kevin is with Rachel and Frank, saying that they checked the security firms along the wharf and nothing was found. Rachel tells them to check again, she thinks maybe it was someone who used to work with security. Frank says there was no fingerprints on the note, and Kevin asks about the phone call he got. Rachel asks him if it could Jimmy that called.
As they are leaving the station, Rachel asks Kevin if he spoke to Frank that morning. Kevin says he didn't think he even came home. Rachel tells him that he did, and he knows about what happened between them. Frank and Rachel drive to the wharf where Jimmy and his two kids are. Frank gets out of the car and asks Jimmy if he called him earlier that morning. As Frank says hello to Jimmy's children, Jimmy punches him in the face and tells him to go and do his job. Frank tells Rachel that he overstepped the mark, and that it seems to be going around. Rachel knows what he is talking about but doesn't say anything.
A man from an insurance company is at the station to talk to one of the detectives about the dead diver. Fiona tells Rachel, but she wants Fiona to handle it. Upstairs, Clarke enters the office and Rachel is outside. They talk about what's happening in finding Red Ted's killer. When Clarke asks her where Frank is, she replies "oh... he's around".
Dave and Terry tell Fiona and the insurance man their findings of the dead diver's equipment. They found that the man switched tanks, got a hit of oxygen and drowned. The man from the insurance company tells them that the diver went bankrupt and only had his insurance money left.
The Nemesis get a call about a fishing trawler in a shipping lane. It is the Rispoli's boat, and there is a ship coming towards them. The Nemesis crew responds, and when they get there, the ship is just metres away from hitting them, so Tommy is forced to cut their fishing nets.
Frank meets Billy, who needs a favour. He can't get in contact with his girlfriend, Liz. As Frank goes to leave, Billy tells him that he might have something on Red Ted's murder - he knows where the container of scotch is. He says he'll tell Frank in exchange for him finding Liz.
At the station, the Rispoli family are annoyed that Tommy cut their fishing nets. Jeff tells them to shut up.
Helen walks into her office to find Frank on her computer, looking up Liz Rowe for Billy. He asks Helen if there is any chance she could find out where Liz is now. Helen tells him that it's illegal. Frank says "how about I offer you my body? ... Goldie's body?" Jeff walks in, saying that Homicide has found the container, with no scotch in it.
Fiona tells Rachel that the wife of the dead diver is downstairs, Mrs Healy. Rachel tells her that she can handle it, as she has been more involved in that case. Fiona talks to Mrs Healy instead, and then talks to Terry about it.
A woman arrives at the Water Police station. Her name is Connie and talks to Frank about Liz Rowe. Connie tells Frank that the last time she saw Liz, Liz told her that she was working in Parramatta making hamburgers. Frank asks her how the injections are going, to which Connie replies, "Great. Can't you tell? Just one small nick and I'll be all woman". Frank looks uncomfortable, and Rachel looks on, smiling.
At the Sydney Police station, Homicide is talking to a man named Clive Brooks, who is ex-security at the docks. Frank and Rachel arrive, and Kevin talks to them. Frank gives them a bit of a cold shoulder, and they go in to interview the man. They have no choice but to let him go when he has an alibi for the night Red Ted was murdered. Kevin and Frank chat, Kevin talks to him about what happened between he and Rachel. He tells Frank that it was one night and it just happened.
Frank meets with Billy Pope, telling him the information he got about Liz Rowe from Connie. When Billy asks which hamburger places she works at, Frank tells him that he has to do some of his own dirty work.
Rachel walks into Helen's office, where Frank is. Helen is looking up Bludger Riley for him on the computer. Rachel asks Frank if she can have a word with him, and they got outside on the balcony. Frank tells her that he's trying to get Red Ted's killer, but Rachel thinks that that is not what it's about - it's about her and Kevin sleeping together. She tells him that it happened once and that was it.
They decide to go with Bludger Riley, instead of Brooks. Frank, Rachel and two other officers arrive at a pub, looking for Bludger. He is there, and throws an empty glass at Frank. When he runs, Rachel grabs him and pushes him against the wall. They interview him at the station, where Bludger eventually tells him that he has an alibi for the night Red Ted was killed. He broke into someone's house that night, and when Helen looks it up on the computer, it is confirmed. Jeff tells them that that a body has been found in the water - it's Clive Brooks. On board a ferry, Frank confronts Billy, asking him about what happened to Brooks.
Jeff talks to Tommy about his father, who is causing an uproar at the fishmarkets, so Tommy goes and speaks with his father about it.
A man arrives at the station, his name is Steve Holt. He wants protection and to turn himself in. He tells Rachel and Frank that he was there with Brooks the night Red Ted was murdered. He heard a gunshot.
Frank and Kevin are out on the wharf, it's night time. They talk about when they were kids. Frank then says that he didn't want the murderer to be Brooks because he was pissed off with Kevin, he wanted him to be wrong.