If Nick's comment isn't right, this one will be. When I first got my similar line, after first using it, i noticed it was all lumpy like that everywhere. That's because, when it's under load it gets really stiff...dissimilar materials as Nick says...The core has near zero stretch, the cover prolly triple that....so, after the rope is handled a bit, and rolled, bent, whatever, those areas will bulge out. Normal and nothing to worry about. I found this out upon calling my rope source, Ben.
That's prolly not the case with your line, unless it was loaded hard, and then not handled much.....Roll it all around, you'll know...