Welcome aboard,
You have a contact but you can't see it through the periscop, it's not a big problem.
The range for hydrophon is around 25-30km ( 50km for a convoy) , for the periscop it's less than 10km. Go to the hydrophon post and listen to it: if the sound is weak it means your contact is quite far so you can estimate the distance around 22-25km, it's not very accurate but you can now report its supposed position on the map ( you have a bearing and a distance).
Now you have to make a visual contact. What i do is running at the surface at full speed to the contact ( in your example you have a contact to your 047 so i turn 47° to the right) FOR 10min then periscop depth and listen to the hydrophon. Normally it should not be in your 0 anymore but in your 10 or 350 (and the sound is stronger) so you now have the target's global direction. What you have to do now is surface the boat and anticipate: It's important to have a visual contact but if you can be ahead of your target the attack will be easier. So if the contact is in your 350 set your uboat to 330, surface and run at full speed. If visual contact is not made just go to periscop depth and listen to the hydrophon again ( if you do this correctly you can't lose the hydrophon contact) Soon you will have a visual contact. Determinate the ship's course now is easy but i need some screenshots to explain it.
Keep on practice and if you need something you will find everything you want here as you may have noticed!
This is a basic approach for a single merchant with no escort, good weather, don't try this in 44' with a hunter-killer group in bad weather
