Dagon (2001)

Two couples are at sea on a yacht when a storm arrives unexpectedly and turns their rich-folks-day-out to shit. The obvious solution is to seek help from the nearby village, but when that village is Inboca (that’s Innsmouth to you and I) things turn even more nasty... with tentacles.
The tension built up as the protagonist runs from the burbling freaks is excellent, it plays out like a Lovecraft inspired survival horror game without guns, but the shaky-cam makes watching it almost unbearable. On the rare occasions the camera is steady the film improves. It even delivers one truly gruesome scene that you won't forget in a hurry.

2½ fish heads out of 5