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Every vessel shall proceed at a safe speed so she can take proper and effective action to avoid collision.
OOW reduces speed in restricted visibility, in heavy traffic, and around hazards. Pilots and masters often disagree about safe speed; the master's overriding authority applies.
Authoritative source: COLREG 1972 ↗
Source: COLREG 1972 Rule 6
Editorial confidence: how we grade.