It means "batten down the hatches".

Poor William Gray may have been dismembered, but he has forecast an above average hurricane season.

PROBABILITIES FOR AT LEAST ONE MAJOR (CATEGORY 3-4-5) HURRICANE LANDFALL ON EACH OF THE FOLLOWING COASTAL AREAS:

1) Entire U.S. coastline - 81% (average for last century is 52%)

2) U.S. East Coast Including Peninsula Florida - 64% (average for last century is 31%)

3) Gulf Coast from the Florida Panhandle westward to Brownsville - 47% (average for last century is 30%)

4) Above-average major hurricane landfall risk in the Caribbean

From here.
NOAA predicts and 95 to 100% chance of above normal hurricane conditions.

http://www.cpc.ncep.noaa.gov/products/outlooks/hurricane.shtml

That's an August 2005 statement and not related to the 2006 hurricane season.
Oops.
Ah PG, Did you notice the date?