The Colt CT525 Marlin Spike is very similar to the Smith & Wesson Hawkbill Marlin Spike. Essentially, Colt swapped the large hawkbill blade with a more traditional sheepfoot blade. A small cut out in the blade acts as a nail-nick allow you to open the knife left or right handed. The bail still locks the spike in place which is somewhat awkward. The liner lock is seems to hold the blade secure enough. The knife requires both hands to operate.
Colt has also added some textured G10 slabs to the side of the knife which give it a wider and more comfortable grip. Unfortunately they decided to go artistic instead of practical so the G10 looks a little wavy instead of covering all of the steel. I think a full slab would have made more sense. At the end of the day, it is a solid well made knife with all the disadvantages of sailing knife that requires two hands to open and close. But the slimmer profile of the sheepfoot blade does make it easier to use the marlin spike.
Pattern: CT 525, Marlin Spike