Abstract: An improved mooring buoy is provided having means for maintaining the shackle at the upper end of its hawser above water level when the buoy is at rest in the water. The buoy is provided with a floating body having a generally vertical passage extending therethrough. The lower end of the hawser is shackled to a weighted line, such as a chain, which is connected to a dead weight. Both the weighted line and the hawser are slidable freely through the passage relative to the floating body of the buoy. Means are provided for limiting the downward sliding movement of the hawser relative of the floating body, to thereby maintain the upper end of the hawser above the water level. The buoy also may be provided with a skirt extending below the floating body to a depth sufficient to terminate below the usual level of the ship's propeller, to prevent the propeller from becoming entangled in the submerged weighted line.