Etymology
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bilge (n.)

1510s, "lowest internal part of a ship," also used of the foulness which collects there; variant of bulge "ship's hull," also "leather bag," from Old North French boulge "leather sack," from Late Latin bulga "leather sack," apparently from Gaulish bulga (see bulge (n.)) and compare budget (n.)).

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Definitions of bilge
1
bilge (v.)
cause to leak;
the collision bilged the vessel
bilge (v.)
take in water at the bilge;
the tanker bilged
Synonyms: take in water
2
bilge (n.)
water accumulated in the bilge of a ship;
Synonyms: bilge water
bilge (n.)
where the sides of the vessel curve in to form the bottom;
From wordnet.princeton.edu