The water bowline is a type of knot designed for use in wet conditions where other knots may slip or jam.
Although similar in finished appearance to the double bowline, the water bowline is formed with two half hitches in the standing end, one on top of the other. This is similar to the double bowline, which puts the running end through a doubled loop, hence the name. The additional friction from the two half hitches increases the security of this knot.
This knot improves upon the bowline which, considering that the latter is known as the the king of knots, is quite an achievement. This knot is very secure and does not jam, even when wet.
The Water Bowline can be tied very quickly by throwing two half hitches over the working end and then running the working end around the standing line and back through both half hitches. This is illustrated in the three pictures below.
Source
http://en.wikipedia.org/wiki/Water_bowline
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