inner transom leak?
 

I have discovered a slow leak coming from my inner transom plate. It appears to be leaking from the area between the drive lube fitting & the plastic bolt on fitting for the water pump hose. It drips about once every second after the boat has been underway. I can lower the boat on the lift & it won't leak, nor will it leak after several minutes of idling. Any ideas what could be leaking?

Possibly the bellows on the shift cable?

Will probably be either the u joint bellow or the shift cable bellow. They should both be changed if need be. Do not just change one or the other. If it is the u joint bellow leaking, the water will eventually destroy the gimble bearing. Sometime it is hard to pin down which one it is since the water will run behind the inner transom plate and come out in other places. Hope this helps, Eddie.