Looks like some minor blistering and exposed glass. sand those areas back with a DA sander to gel coat, fill blisters with cabisol and coat exposed glass with a thin epoxy, primer seal and bottom paint. Wear a good respirator when sanding (not a dust mask) because bottom paint contains all kinds of nasty stuff and will make you ill. Bottom paint is great if you leave it in the water if even a few days at a time. If you trailer every time, when you rebuild remove the ablative bottom paint, reseal and apply a good hard bottom paint like Vivid or something comparable. That should last several seasons trailering. Depending on how many coats you have on your boat when you rebuild and remove the old bottom coat you will be removing many pounds of old paint. Soda blasting the hull is worth every penny. Ablatives contain copper and other metals. Most bottom paints can be reactivated with a good scrubbing using a stiff bristle brush. Spot painting is OK for a quick fix.
