No panic - this is good and normal.
This water provides a tell-tale indication that cooling water is pumping through and out of the engine (and cooling the exhausr casting). It also - importantly - provides a syphon break to prevent the possibility of water syphoning back to the engine (by letting air in when engin is stopped.
These are very good engines, long lived, although parts are expensive. I have quickly learnt that looking after the fuel system is paramount to avoid ongoing problems. Ensure the tank is clean and that the fuel filler cap has a good seal to prevent deck water entering. Check/change filters regularly and use an additive (soltron) to prevent/deal with risk of fuel bug/water in fuel.
If its not been looked at in recent years, have the head taken off and inspected/gasket replaced as a preventative measure. If the "don't fix if it ain't broke" approach is taken, you can end up with erosion wdamage to cylinder and head - a lot more trouble.
The Bukh seems a very tight fit and an inspection mirror and portable fluorescent light are a must. Few special tools are required, combination metric spanner set, high quality allen keys and socket set will do for most tasks. A filter strap wrench (Alligator type) is useful amd one off the PELA oil draining vacuum pumps (cheapest about £20 from Compass) is recommended to suck oil out via dipstick hole. The drain plug is only for the most courageous.
Phil
Phil
Seal 22 "Sealark" Sail No 54