The ship creates an artificial black hole to transport instantly from one point in space to another. However the ship disappears, then reappears years and years later.
The movie is about finding the survivors and ultimately, where the ship went.
Its a great movie I'd love to see a remake.
A remake?!? Already?! I mean I know Hollywood has run out of ideas, but that movie isn't that old yet. Sure, 1997, but even so.