### Question
What is the definition of new vessel?


### Answer
The definition of **new vessel** is as follows in *APPENDIX U.S.C. § 1160*:

> a vessel or vessels, each of which (A) is constructed under the provisions of this chapter, and is acquired within two years from the date of completion of such vessel, or is purchased under section 1204 of this Appendix, as amended, by the person turning in an obsolete vessel under this section, or (B) is hereafter constructed in a domestic shipyard on private account and not under the provisions of this chapter, and documented under the laws of the United States

#### Citation:
  - *APPENDIX U.S.C. § 1160*
  - Heading: **CHAPTER 27-MERCHANT MARINE ACT, 1936 > SUBCHAPTER V-CONSTRUCTION-DIFFERENTIAL SUBSIDY**

