A composition for coating a water-contacting surface for reducing kinematic friction, preventing corrosion and blistering, reducing water impact noise, and absorbing water shock includes a polymer including a polyhydroxystyrene of the novolak type. In alternate embodiments the composition also includes an antifouling agent, a gel coating material, and/or an epoxy. A method includes coating a water-contacting surface with the composition, preferably in a solution in an appropriate solvent, such as a low-molecular-weight oxygenated hydrocarbon such as an alcohol or a ketone. Application of the composition to a water-submersible or -contacting surface results in a hydrophilic surface having a considerably reduced contact angle, permitting increased speed and improving fuel efficiency.