Following the first volume's tradition, Tangomango 2 opens with the narrator, this time on a different island (l'île du Cralbator). In keeping with the title, he is printing a new edition of La Gazette du pirate, a newspaper that went out of print ten years prior due to Poupo Mongrovejo's pirate hunt. This will be a major theme in the book as the bottled gazettes reach the shores of various islands, inciting pirates to come out of hiding and join the 16th Pirate Tournament, a treasure hunt that is organized every time a great pirate decides to retire and leave his treasure behind for the new generations.
The news quickly reach governor Mongrovejo, who is of course furious to see such an open attempt to organize pirates despite his unrelenting efforts to wipe them out. This will cause him to recall two of his Vovodouns by the end of the volume to send them looking for the mysterious île du Cralbator, which no one seems to have heard of but is the meeting place of the Pirate Tournament.
Meanwhile, the rebellious penguins Chuck, Don and Gus visit the library to investigate the amulet they have found, but they learn nothing more than the story of how it was found and lost by the navigator Léo le Duck, its origins suggesting that it was a Sadida artifact... or a mere juju.
Throughout the book, Black Ink and Elaine have several misadventures of their own. Beginning with a double identity crisis (Black Ink sees himelf as worthless and unable to raise Elaine properly – Elaine is coming into her teenage years and genuinely believes she is a Kralove), Elaine's impatience drives them to the île de la Serrure, a banking island where Black Ink owns a stash of "valuable" items he intends to sell to buy a rudder in Nao la Grande. The rudder is the last missing piece of their ship, one too complex and crucial to improvise out of used wood.
Unfortunately, they encounter the Vovodoun Silver at sea and lose their precious chest in the commotion, narrowly escaping with their lives as Mongrovejo, unaware of the situation, recalls the Vovodouns just in time for Silver to drop Elaine, unscathed, into the water. Now without the means to procure a rudder in the capital, the would-be pirates are forced to go back to attacking small ships in the surrounding area to build up new savings. This is when they encounter the young pirate Drake Bellamy and his second-in-command Lafayette, a large but somewhat passive bipedal shark. In just a few minutes, the two teenagers build up a strong rivalry, but the situation is defused when Black Ink notices a bottle floating nearby and they all find out about the tournament.
As the volume comes to a close, both "crews" decide to join the tournament. With renewed hopes, Black Ink and Elaine change their course to Haven Port with an improvised rudder, where they intend to find work to finish the repairs and prepare for the tournament. While the tournament is set for Martello 21st, 983, registration ends on Descendre 19, leaving them about 3 months to prepare.