I think I hear Mars calling...that setup should work fine without
electrolysis problems. The only tricky bit with a
steel hull is not to lose to much signal on the line to the insulated backstay. Minimize the run inside the boat, no sharp corners, and use standoffs on the uninsulated part of the backstay and the steel
parts.
I had a friend whose NZ 'expert installers' ran his
antenna line up inside an aluminum arch for about 10 feet. He couldn't hear the Mrs, let alone Mars till we reran it outside.