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This is a non-lateral marker. It can indicate a controlled area, such as no wake. It can be an informational marker, a "keep out" marker, or a warning marker (Dam, Rock, etc)
re
Hazard
Controlled area
controlled area, such as a no-wake zone
It is a control buoy- indicates speed limits, no-wake zones, etc
Aircraft Arresting System Marker
An orange circle is used to mark a no wake or idle speed zone.
An orange diamond is the symbol on a regulatory marker that indicates hazards such as rocks or stumps.
keep out of that area
red and yellow
keep out of that area