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This is a mooring buoy or mooring ball. They are used in either a public or private capacity to moor your vessel to. In a way it acts as an anchor for your vessel. Instead of dropping an anchor though, you simply pull up to the buoy and slip on a line (rope) and make fast. It also the ONLY acceptable buoy you may do this to.

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11y ago
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Q: You see a white buoy with a blue band What type of buoy is this?
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