This obscure Yugoslavian-USA joint production (filmed partly in Austria) is, in many ways, partially a precursor to The Fog.
In a small lakeside village in Austria, individuals are being killed in mysterious ways. Though the townsfolk themselves are naturally superstitious, the evidence begins to point to the spirit of a captain blamed for a shipwreck causing the deaths of eighty people 100 years ago, those being killed in the present descendants of those who blamed Captain Gohr. It's a fun plot, and while it doesn't have the atmosphere of The Fog, one can see how such comparisons can be made.
This movie boasts a decent cast, those standing out including Joel Fabiani (playing the main character), Karin Dor (who looked a lot like a young Allison Janney), and Wolfgang Brook (this is, in fact, his only movie). Fabiani played his character, a care-free, martini-drinking psychic, beautifully, and had some good lines throughout. Wolfgang Brook, despite this being his only film (at least according to IMDb) did well as an Inspector in a bad situation, getting worse by the day.
While the gore wasn't the standout feature of this film (for the first hour and ten minutes, thereabouts, it had a television movie feel to it), there was a good stabbing about an hour and ten minutes in, along with a surprisingly violent scene in which a woman got the top of her skull chopped off, blood spewing and her brain falling out onto a table. Special effects in those scenes were done well, and the spirit/zombie of Gohr looked pretty good also.
The movie did lose a bit of steam, ironically enough, toward the end, and the final twenty minutes were a bit more unsteady than I'd have preferred, but overall, I thought the movie did well for itself. It's certainly a slower flick, and it wouldn't appeal to everyone, but the cast and the story did the movie justice. Quick note: some claim that the movie's from 1986 (as does the copyright state at the end of the film), but it felt more like a 70's movie to me, and as IMDb lists it as 1977, that year it will stay. Solid movie, and while not amazing, a good flick to watch on a rainy day.