That's pretty close to what I have...'cept I got the Titanium blade...I've seen too many stainless blades corrode in the salt (these days it's tought to get marine grade steel/electro-polished...it's all the cheaper, dull finished shite).

Points to keep in mind...you need to be able to access the knife with either hand and open it with one hand (that's why I prefer non-folding types). A buddy of mine that actually needed his knife in an emergency...trapped under tramp in capsize...advised to get a longer rather than shorter blade since cutting through the tramp goes much faster with more blade to saw with.

Another option is one of those Bearclaw type curved "knives" they are quite compact and can slice line & material (like seatbelts...Coast Guard guys where'em).