Definition of obsolete vessel

is or will be in the custody and control of the Maritime Administration for purposes of disposing of the vessel; and preserving for future use or spare parts harvesting; or retaining in the National Defense Reserve Fleet. In this chapter, the term “obsolete vessel” means a vessel that— has been determined by the Secretary of Transportation to be of insufficient value, with respect to the programs of the Maritime Administration, to warrant— (Source: (Added Pub. L. 118–31, div. C, title XXXV, § 3514(j)(1)(B), Dec. 22, 2023, 137 Stat. 811.))