There may not be a suitable 'grounding point' on your boat so you have two options. I would leave it disconnected as the first test and see how the system works. If there are indications of interference problems, connect it to the black connection. I think either will probably work. To a large extent, the purpose of the shield braid is to reduce interference that might be introduced into the cable along its run. As with many devices, the
signal wires ( transducer cable) should not be run in very tight bundles or close to heavy current carrying cables like battery cables, windlass, or other larger current draw devices. Crossing over power cables at right angles is OK if needed.