What do you mean "What does this say?"?
It doesn't say anything. It's just a bunch of squiggly lines.
Actually, I tried to come up with a translation. I can't make out the last word that well so all I have is "it is small by the buoy of ..."
By the way, I don't know Russian. I tried to decipher the handwriting with a Cyrillic alphabet chart off of Google images and typed what I got into a translator.:p