JMNT(i)
24 Now the little boat, already many hundreds of yards (i.e., many stadia) away from land, was continuing distant in the midst of the lake (or: sea), continuously being tried – as with a touchstone to test its metal (and thus, its mettle) – [thus, pounded] by and under the waves, for the wind was continuing against [them] (i.e., it was adverse and contrary).
25 Yet during the fourth watch period of the night (about three o'clock in the morning), He came toward (or: to) them – continuing in walking upon the lake (or: sea).
26 But the disciples, upon seeing Him progressively walking about – upon the lake (sea), were at once shaken and troubled, one after another saying, "It's a ghost (or: a phantom; or: an apparition; or: the effect of something being made visible)!" – then they cried out from fear.
27 Yet Jesus at once spoke to them, proceeding in saying, "Continue in confidence and courage: I AM (or: I am Being; I am continuous Existence; or: = Take heart and continue courageous – It's ME)! Do not continue being afraid."
28 Now in a considered and discerning response, Peter said to Him, "Lord (or: O Master), since You are (or: if You are You; = if it's really You), direct (or: order) me to at once come toward You upon (= on the surface of) the waters!"
29 So He said, "Come at once!" (or: "Go [for it]!") Then, upon stepping down from the little boat, Peter at once walked about upon the waters and came toward Jesus.
30 Yet while continuing in looking at [the effects of] the strong wind, he was made to fear (or: became afraid). And then beginning to progressively sink down, he cried out, saying, "O Lord (Master), save me now (rescue me quickly)!"
31 So immediately Jesus, stretching out [His] hand, got a hold upon him, then is saying to him, "O man of little trust (or: confidence) and small faith! Into what two places do you mentally stand (= Why do you waver and hesitate)?"
32 Then, at their stepping down into the little boat, the wind grew weary and died down.
33 Now the men within the little boat paid Him homage by kneeling down and with obeisance kissing toward Him – some reverently kissing His feet – while one after another was saying, "Truly, You are God's Son (or: In reality You exist being a son of God; You really are [the] Son, whose origin, quality and character is God)!"