Is this a new boat? Has it recently had work involving electrical?
Occum's Razor says it is a bad meter. Thats my bet. I put overwhelmingly odds there. Depending upon how the meter works the deflection is overcoming some other force to move (fixed magnet, spring, dynamo, etc, etc, etc). If anything goes wrong with this opposing force, the meter pegs.
Of course if two 12v batteries got wired in series instead of in parallel and you've got 24v on your 12v system, the meter is properly pegged -- and the electrical system is dangerous.
As suggested by others.....check with another meter ....before...playing with sparky.