Blisters above waterline

[Pampas]

Found small small blisters on one side of my 20 year old Najad sailboat. They are all above the waterline and really no smell on the one i managed to ”puncture” I could not see any fluid either - but hard to say as the are so small. I have not seen any below waterline.

Been in the Caribbean for a couple of years and last season ICW and eastcoast.
Is this urgent to fix?
Is this Osmosis?
Any recomendations?

Picture encl (sorry just had a metric meassurement when doing the pics , so its showing mm:-))..

[slug]

Yup

I’ve seen them creep even higher

Is that paint or gelcoat ?

Blisters don’t sink boats

They do detract from resale value

You should speak to the shipyard for advice or a competent surveyor

If you suspect osmosis It’s always best to test the moisture content of the laminate before deciding what to do

[Pampas]

Thanks!
It Gelcoat - the red and the white. Not paint