Repair/Replace Gunwale Wood

[CoorsCrusher]

Hello all. Getting the boat ready for the summer and was replacing the rod holders the original owners had installed. There’s some pretty substantial waterlogging in the wood where they drilled through the gunwale to put the mount in. Wondering what the best way to repair would be? Scrape out all the waterlog rotted wood and then trying to figure out what to put in to replace. It’s sandwiched on both sides by fiberglass so placing new wood in would be difficult.