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power boat
If two boats are approaching from the port (left) side, and you have a red side light, it means they are on a collision course with your vessel. You should take immediate action to avoid a collision by altering your course or speed.
Assuming both boats are under sail, and both boats have adequate visibility, the position of the wind will determine which is the stand-on vessel and which is the give-way vessel. If each vessel has the wind on a different side, the one with the wind on the port side keeps clear. if both have the wind on the same side, the vessel nearest to the direction of the wind keeps clear.
It's called a lantern. All boats/ships over a certain size that travels at night are required to carry them. They come in different configurations so that other boats can see from the combination of lights what kind of vessel it is, and the approximate direction it's travelling in.
Size of boats
German U-boats.
In Australia, sailing boats only have to give way to commercial boats. When collision is imminent. Exercising your "right of way" can be detrimental to your lives and crafts.
Traditionally it was vessels under 200 feet long. Vietnam Riverine Boats (Brown Water Navy) were all considered boats; Swift Boats (PCF-Patrol Craft Fast), PBR's (Patrol Boat River), Monitors (River Battleships), and Alpha Boats (ASPB-Assault Support Patrol Boats). Blue Water Naval vessels were Frigates, Destroyers, Cruisers, etc.
When a sailboat is operating with mechanical propulsion, regardless of whether or not a sail is up it is considered a power driven vessel for the purposes of the rules of the road.
Lusitania
Small boats, for many, are a simple and inexpensive way to get started in sailing.
Documentation with the U.S. Coast Guard