Title 46 › Subtitle Subtitle V— Merchant Marine › Part C— Financial Assistance Programs › Chapter 535— CAPITAL CONSTRUCTION FUNDS › § 53501
Defines key words used in this chapter. Agreement vessel means an eligible or qualified ship that is covered by an agreement here, and can include a barge or container if the agreement allows it. Eligible vessel means a ship that meets certain build and documentation rules (built or rebuilt in the United States, or built abroad but U.S.-documented on April 15, 1970, or built abroad under a contract made before April 15, 1970), is documented under U.S. law, and works in U.S. foreign or domestic trade or in U.S. fisheries; it also covers U.S. commercial fishing boats of at least 2 net tons but less than 5 net tons that are U.S.-owned, homeported in the U.S., and used in U.S. commercial fishing. Joint regulations are rules made jointly by the Secretary and the Secretary of the Treasury under section 53502(b). Noncontiguous trade means trade between the lower 48 States and Alaska, Hawaii, Puerto Rico, or U.S. territories, or trade among those noncontiguous places. Qualified vessel is like eligible vessel but must be part of an agreed capital construction fund plan. Secretary means the Secretary of Commerce for fisheries and the Secretary of Transportation for other vessels. Short sea transportation trade means moving containerized or wheeled cargo by ship between U.S. ports or between U.S. ports and certain Canadian Great Lakes–Seaway ports. United States foreign trade includes areas allowed under the first sentence of section 506 of the Merchant Marine Act, 1936. Vessel also includes certain cargo-handling gear and ocean-going towing vessels, barges, or similar Great Lakes craft.
Full Legal Text
Shipping — Source: USLM XML via OLRC
Legislative History
Reference
Citation
46 U.S.C. § 53501
Title 46 — Shipping
Last Updated
Apr 5, 2026
Release point: 119-73not60