This looks to me like you got interested in the subject, which is a good and interesting subject, but lost track of the frame in that interest. Or, possibly, you had the wrong lens and no room to back up?
Anyways. I like the blue tones, it's an interesting and nearly surrealist color palette, with the boat matching the sky in general color terms. While it looks underexposed at first, I don't find it so. On the one hand, in technical terms, the boat is fairly obviously under one of the scattered clouds, and hence in "open shade" as it were. In artistic terms, the muted, slightly dim, tonality contributes to the feeling of dereliction that I think you were going for here. In fact, I suspect the boat is no more derelict than I am, it's merely a working boat that's been shut down for a few days or weeks and has some makeshift covers on her. So, I am reading this strong feeling of dereliction as largely your creation. Well done!
The frame, to my eye, needed to be a fair bit looser. This might even work as a portrait orientation, with the boat filling the bottom of a frame filled with dramatic skies. But then, I just got done shooting my ass off in pretty much that format, so I am assuredly prejudiced.
More so no room to back up than not enough lens. Backlit, moody sky, blah-blah-blah. For me, this is so much more about the processing and working within the image than the setting itself - though I do like the shot. I agree as to needing more headroom above the masts and may go build some later today. I may even give the portrait orientation a shot. I hadn't thought of that.
As to the boat not being a derelict..it is very much so. In fact it was so cluttered with crap, I couldn't make a sun behind me shot of any great interest.
I like the relative darkness of the boat for pretty much the reasons Andrew gave, and I prefer it to the alternate version. I also like the tight crop which I think works together with the lighting. In fact I'd crop most of the space on the left as well. This would have the added benefit of getting rid of some trees and shore which I find just a little distracting.
Fiddled a little more with a tighter crop although still more horizontal as it seems to work best. It was a difficult exposure and as with all hindsight, wish I hadn't been so much in a hurry as to not get out the tripod and do some bracketed exposures.