Title 46 — ShippingRelease 119-73not60
§57302 Authority to Acquire Vessels
Title 46 › Subtitle Subtitle V— Merchant Marine › Part F— Government-Owned Merchant Vessels › Chapter 573— VESSEL TRADE-IN PROGRAM › § 57302
Summary
The Secretary of Transportation can take an old, out-of-date ship and give its owner credit toward the cost of building or buying a new, safer, more efficient ship for U.S. domestic and international shipping.
Full Legal Text
Title 46, §57302
Shipping — Source: USLM XML via OLRC
To promote the construction of new, safe, and efficient vessels to carry the domestic and foreign waterborne commerce of the United States, the Secretary of Transportation may acquire an obsolete vessel in exchange for an allowance of credit toward the cost of construction or purchase of a new vessel as provided in this chapter.
Legislative History
Notes & Related Subsidiaries
Historical and Revision Notes
Revised SectionSource (U.S. Code)Source (Statutes at Large) 5730246 App.:1160(b) (1st, last sentences).June 29, 1936, ch. 858, title V, § 510(b) (1st, last sentences), as added Aug. 4, 1939, ch. 417, § 7, 53 Stat. 1184; Pub. L. 87–401, subdiv. (1), Oct. 5, 1961, 75 Stat. 833; Pub. L. 91–469, § 35(a), Oct. 21, 1970, 84 Stat. 1035; Pub. L. 97–31, § 12(91), Aug. 6, 1981, 95 Stat. 161. The words “toward the cost of
Construction
or purchase of a new vessel” are added for clarity. The text of 46 App. U.S.C. 1160(b) (last sentence) is omitted as obsolete.
Reference
Citations & Metadata
Citation
46 U.S.C. § 57302
Title 46 — Shipping
Last Updated
Apr 5, 2026
Release point: 119-73not60