### Question
How does the law define new vessel?


### Answer
Under *APPENDIX U.S.C. § 1160*, **new vessel** is defined as:

> 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 24A-MERCHANT MARINE ACT, 1928 > SUBCHAPTER V-CONSTRUCTION-DIFFERENTIAL SUBSIDY**

