Step 1

Open a new document
Press D and select Filter > Render > Clouds

Step 3

Select Filter > Blur > Radial Blur and set values as shown:
Amount : 30
Blur Method : Spin
Quality : Best

Step 4

Select Filter > Blur > Gaussian Blur and set Guassian Blur
Radius value: 2

Step 5

Select Filter > Sketch > Bas Relief, values as shown
Details: 14
Smoothness: 3
Light : Buttom

Step 6

Select Filter > Sketch >Chrome with values as shown
Details: 14
Smoothness: 3

Step 7

Change color of the water surface by pressing Ctrl + U (Hue / Saturation) and select appropriate values
Check Colorize
Hue: 220
Saturation: 60
Lightness: 0

Here is the result:

2. Go to Filter > Blur > Gaussian blur and click ok for rasterizing the layer. Set radius to 1.

3. Now go to Filter > Distort > Ocean ripple and set these settings:
Ripple size: 5
Ripple Magnitude: 10

4. Duplicate the layer and go to Filter > Sketch > Water paper and set this settings:
Fiber length: 42
Brightness: 70
Contrast: 64

5. In the layers toolbar set the blend mode to Hardlight, or whatever you think looks better.
Merge the two layers (Ctrl+E).

6. Duplicate the layer and go to Filter > Blur > Motion Blur and use these settings:
Angle: 90
Distance: 33
Set the blend mode to Hardlight.