In the right hands, this could have been a very spooky movie with a mysterious quest and a scary thrilling ending. Something along the lines of what happens to a ghost ship like "The Flying Dutchman".
However, the movie was made as a swashbuckler and it succeeds well in that genre with great supernatural special effects thrown in.
However, I'm going to give it two and half stars because there could have been more suspense and mystery in it.
Review Of "Pirates Of The Caribbean"
The Curse Of The Flying Dutchman