Lillie Lightship is sad. Moored out of the harbour to guide boats and keep them out of danger, she never gets to see the Regatta. In spite of Lillie's warnings, a tramper sees her too late and hits her, making a large hole in her side. The Star tugs rescue her and she is towed into the yard to be mended, from where she sees the exciting, colourful regatta parade, with barges decorated by dockland firms, cranes, and buildings festooned with banners.