Final answer:
A high intensity all-round flashing red light on a vessel signifies it is a Wing-In-Ground (WIG) craft during takeoff, landing, or when flying close to the surface. WIG crafts are treated as power-driven vessels in terms of navigation rules.
Step-by-step explanation:
A high intensity all-round flashing red light on a vessel indicates that it is a Wing-In-Ground (WIG) craft when taking off, landing, and in flight near the surface. These craft are a special category of vessel that operates close to the surface of the water, using ground effect to enhance lift and reduce drag.
According to the International Regulations for Preventing Collisions at Sea (COLREGs), Rule 18 covers the responsibilities between vessels, and though a WIG is not specifically mentioned, it is considered a power-driven vessel and would therefore have to adhere to the same regulations as other power-driven vessels when operating on the water. The lighting is to warn other vessels of the WIG craft's activity and to encourage caution and the observance of safety measures in their vicinity.