"Death Ship" is a rather sporty and often unacknowledged piece of 80s B-trash. I would say it's fair to assume that 2002's puerile supernatural snoozer "Ghost Ship" was 'borrowing' heavily from "Death Ship", not to mention completely stealing the original poster art concept. While both films are unfortunately lacking in their haunted water vessel related motifs, "Death Ship" is surely the one that takes the cake.
A partying cruise ship is broadsided and ultimately sunk by a mysterious German craft on a collision course. Only a handful of survivors make it away on a raft and are eventually picked up by a ship, though they are seemingly oblivious that it is the same malicious boat that capsized their dingy. From the get-go, shit ain't goin' their way. The rickety ladder ascending them to the deck collapses, sludge is dumped on them, and a guy gets caught up in a rope and swung into the ocean where he disappears under the hull. And this all happens just as they're trying to board the "rescue ship"... Those who manage to survive this task are subject to an even worse fate as the deserted Nazi liner continues to fuck with them - as well as giving the wounded cruise captain the ol' Jack Torrance treatment...
There are a few moderately creepy moments throughout the film - involving a blood shower, a net full of corpses, and eerie black and white shots. The acting is passable and the pacing is good. Those who are overly picky may want to avoid "Death Ship", however, I gotta give it a hearty recommendation. Pretty enjoyable ghost flick.