Dead in the Water (Origin)

What Is the Origin of the Saying "Dead in the Water"?

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Dead in the water means to have no momentum or chance of progression. It is a nautical term, which originally referred to a motionless sail ship on windless day, which appeared to be dead in the water.

Examples of Use:

Without additional funding, the project is dead in the water and cannot proceed.
After the main sponsor withdrew their support, the event was dead in the water and had to be cancelled.
Despite initial excitement, the proposal lacked key details, rendering it dead in the water.
Without a proper marketing strategy, the product launch is dead in the water and unlikely to succeed.
The negotiations reached an impasse, leaving the deal dead in the water.