Upon accepting this contract, a red skull will appear on the map off the coast to the west of Salt Key Bank. As we approach, a green search zone will appear on the map and we need to use our spyglass to locate the target’s vessel. I found it at around the co-ordinates ( 410,649). It is a level 11 schooner.
Once identified, the ship will be marked with a red objective marker. Chase it down and damage it so that you can board. Then initiate the boarding, find and kill the target to complete the contract.