The red light would be the port steaming light and the white one the masthead light. The other vessels head would be at an oblique angle to you. It depends on the vessels relative bearing on what your reaction should be but it would need to be kept under observation at the very least.
you must have at least 1 white light
Small boat light.
white
When boating at night, a single white light tells you that it is either a light house or an anchored boat.
Turn on an all-around white light when anchoring your boat.
ANY boat on the water at night must display three lights: A green light starboard (on the bow) a red light port (on the bow) and a white light on the stern, mounted higher than the bow lights.
depends on the size of the boat, but at least a white light to the masthead.
depends on the size of the boat, but at least a white light to the masthead.
Dirección of the boat
Slow down and turn to avoid the small boat ahead of you.
Turn on an all-around white light when anchoring your boat.
If you are boating at night, and you see a single white light on another boat this light tells you that you are overtaking another vessel or it is anchored. It is mandatory for all engine powered boats and shines forward. If there is no light it indicates a sailboat under sail.