Letty has died from diphtheria caught from nursing sick orphans and Elizabeth has returned from Turkey to manage urgent Fraser business. Sarah is on a Cook's tour of the world, Samuel has his own ships, bought from selling the shares William left his son Robert, as well as becoming the youngest chairman of the chamber of commerce. He divorces Charlotte and is awarded custody of the children but agrees to repay the shares in the little boy's account. Having suggested to Elizabeth that the Onedin and Frazer lines merge, James takes Prince Alexander, exiled by the...Max Van Der Rheede is imprisoned and James is free. He beats Samuel to the contract of transporting nitrate and sets sail with his first cargo. Against his orders Margarita accompanies him. She is pregnant and eventually gives birth to a son. James is overjoyed. Elizabeth, on the other hand, receives distressing news. Daniel's ship has sunk returning to England and he has drowned, making her a widow for a second time.