Abstract: A method and apparatus for storing, transporting, and dispensing a marine anchor and anchor line therefor. A storage container is included with opposing ends, one end having an aperture with the bitter end of the anchor line projecting therethrough for attachment to a vessel, while the anchor end of the line extends through an opening in the opposite end. The remainder of the line and any anchor are stored within the container. Structure at the opening is included for controlling release of the line. The container is secured along the anchor line to prevent its movement during such release and to prevent the bitter end from slipping back into the container. Structure for draining the container and carrying the container, anchor line, and anchor as a unit is included.