---
kind: "section"
citation: "46 U.S.C. § 53412"
title: "46"
title_heading: "Shipping"
number: "53412"
heading: "Acquisition of Fleet vessels"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/46/53412"
units:
  - "Subtitle V — Merchant Marine"
  - "Part C — Financial Assistance Programs"
  - "Chapter 534 — Tanker Security Fleet"
---

# §53412. Acquisition of Fleet vessels

- (a) **In General.—** Upon replacement of a [Fleet](/usc/46/53101.md?p=3) [vessel](/usc/46/53501.md?p=9) under an [operating agreement](/usc/46/53201.md?p=8) under this chapter, and subject to [agreement](/usc/46/53201.md?p=8) by the [program participant](/usc/46/53401.md?p=5) of the [vessel](/usc/46/53501.md?p=9), the [Secretary](/usc/46/53101.md?p=8) of Transportation is authorized, subject to the concurrence of the [Secretary](/usc/46/53101.md?p=8) of Defense, acquire the [vessel](/usc/46/53501.md?p=9) being replaced for inclusion in the National Defense Reserve [Fleet](/usc/46/53101.md?p=3).
- (b) **Requirements.—** To be eligible for acquisition by the [Secretary](/usc/46/53101.md?p=8) of Transportation under this section a [vessel](/usc/46/53501.md?p=9) shall—
  - (1) have been covered by an [operating agreement](/usc/46/53201.md?p=8) under this chapter for not less than 3 years; and
  - (2) meet recapitalization requirements for the Ready Reserve Force.
- (c) **Fair Market Value.—** A fair market value shall be established by the Maritime Administration for acquisition of an [eligible vessel](/usc/46/53501.md?p=2) under this section.
- (d) **Appropriations.—** [Vessel](/usc/46/53501.md?p=9) acquisitions under this section shall be subject to the availability of appropriations. Amounts made available to carry out this section shall be derived from amounts authorized to be appropriated for the National Defense Reserve [Fleet](/usc/46/53101.md?p=3). Amounts authorized to be appropriated to carry out the Maritime Security Program may not be use to carry out this section.

## Source credit

(Added Pub. L. 116–283, div. C, title XXXV, § 3511(a), Jan. 1, 2021, 134 Stat. 4418.)