1987 Aq 131 a White milky oil out crank breather into carb?????

Hello i have a 87 volvo aq131a and i have white milky oil all over the engine and on the bottom of the inside of the boat,came out from the crank case breather.
How did this happen the boat idles nice no problem and the temp gauge is at 195f
and have good oil pressure.
The motor is a closed cooling and antifreeze level is ok.
Had a look at plugs,clean and ok
Had a look through the oil cap and everthing is white thick stuff and i see clear water droplets everwhere and the cam is starting to rust .
Anybody know what is happaning
Thank You for th help

Re: Aq131a White milky oil out crank breather into carb?????

water is getting into your engine.
I had same engine with same problem 4 years ago. Unfortunately I didn't find out till the marina mechanic replaced my carburetor and on ignition, a connecting rod blew right through my engine block.
I don't know where the usual palces for the water leak are but you really should replace the milky oil and oil up the engine as well as possoble to prevent seizing/rust. Hope yopu get some specifics on how to do this or speak to a mechanic soon before more damage is done to the engine.

Re: Aq131a White milky oil out crank breather into carb?????

I would look at the following possibilities:

1) Perforated exhaust manifold
2) Blown head gasket.
3) Cracked head or a cracked block.

Your engine does not (should not) have an oil cooler, so that possibility is out of the picture.

Re: Aq131a White milky oil out crank breather into carb?????

Exhaust manifold o.k
Head o.k -did commpression test
Closed cooling system and full of antifreeze
Thermastat o.k
Can it be rear seal
Thank You