Oh that men would praise the LORD for his goodness, and for his wonderful works to the children of men! KJV, ASV, DARBY, AM, WEB, BBE, WBS, KJ2000, MSTC, NHEB
ESV - 31 Let them thank the Lord for his steadfast love, for his wondrous works to the children of man!
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In my opinion, in the passage cited in the question, the psalmist was using God's care of those who make their living in boats (such as merchants or fishermen) -- including preserving them by His calming of the fierce storms that He Himself may cause to occur at sea -- as a specific example of the psalmist's overall theme of the reasons for which God deserves praise and thanksgiving from humans.
These are "the redeemed of the Lord", that is these are the redeemed by the Lord. (see Ps 107:2). They were to give thanks to the Lord, praising Him for His love (Ps 107:31-32). Why were they to do this? (Ps 107:23-30). David writes of God's grace in spite of Israel's sin (Ps 107:23-30). I.e. God saves them from imprisonment, death, and trouble (Ps 107:2, 18-20, 23-30).--When they cry for help, He answers them.
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