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46 U.S.C. § 57513 — Minimum bid
Federal law — U.S. Code and appendices · legal_authorities
The Secretary of Transportation shall reject any bid for the charter under this subchapter of a vessel constructed under this subtitle or the Merchant Marine Act, 1936, if the charter hire offered is lower than the minimum charter hire would be if the vessel were chartered under [section 57531 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section57531&num=0&edition=prelim).
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Source file: Laws/federal/codes/united-states-code/title-46/section-57513-minimum-bid--fa43a07e7e.md
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Source location: Title 46, Chapter 575, § 57513; chapter-575-construction-charter-and-sale-of-vessels.md
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The Secretary of Transportation shall reject any bid for the charter under this subchapter of a vessel constructed under this subtitle or the Merchant Marine Act, 1936, if the charter hire offered is lower than the minimum charter hire would be if the vessel were chartered under [section 57531 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section57531&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
In this chapter:
(1) **Bulk cargo.—** — The term “bulk cargo” means cargo that is loaded and carried in bulk without mark or count.
(2) **Contractor.—** — The term “contractor” means an owner or operator of a vessel that enters into an operating agreement for the vessel with the Secretary under section 53103.
(3) **Fleet.—** — The term “Fleet” means the Maritime Security Fleet established under section 53102(a).
(4) **Foreign commerce.—** — The term “foreign commerce” means—
(A) commerce or trade between the United States, its territories or possessions, or the District of Columbia, and a foreign country; and
(B) commerce or trade between foreign countries.
(5) **Participating fleet vessel.—** — The term “participating fleet vessel” means any vessel that—
(A) on October 1, 2015—
(i) meets the requirements of paragraph (1), (2), (3), or (4) of section 53102(c); and
(ii) is less than 20 years of age if the vessel is a tank vessel, or is less than 25 years of age for all other vessel types; and
(B) on December 31, 2014, is covered by an operating agreement under this chapter.
(6) **Person.—** — The term “person” includes corporations, partnerships, and associations existing under or authorized by the laws of the United States, or any State, Territory, District, or possession thereof, or of any foreign country.
(7) **Product tank vessel.—** — The term “product tank vessel” means a double hulled tank vessel capable of carrying simultaneously more than 2 separated grades of refined petroleum products.
(8) **Secretary.—** — The term “Secretary” means the Secretary of Transportation.
(9) **Tank vessel.—** — The term “tank vessel” has the meaning that term has under [section 2101 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 53101
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Federal law — U.S. Code and appendices · legal_authorities
Every contract executed by the Secretary of Transportation under this chapter shall contain provisions requiring (1) that, the contractor and every affiliate, domestic agent, subsidiary, or holding company connected with, or directly or indirectly controlling or controlled by, the contractor, to keep its books, records, and accounts, relating to the maintenance, operation, and servicing of the vessels, services, routes, and lines covered by the contract, in such form and under such regulations as may be prescribed by the Secretary of Transportation; (2) that the contractor and every affiliate, domestic agent, subsidiary, or holding company connected with, or directly or indirectly controlling or controlled by, the contractor, to file, upon notice from the Secretary of Transportation, balance sheets, profit and loss statements, and such other statements of financial operations, special report, memoranda of any facts and transactions, which in the opinion of the Secretary of Transportation affect the financial results in, the performance of, or transactions or operations under, such contract; (3) that the Secretary of Transportation shall be authorized to examine and audit the books, records, and accounts of all persons referred to in this section whenever he may deem it necessary or desirable; and (4) that upon the willful failure or refusal of any person described in this section to comply with the contract provisions required by this section, the Secretary of Transportation shall have the right to rescind the contract, and upon such rescission, the United States shall be relieved of all further liability on such contract.
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 57522
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Federal law — U.S. Code and appendices · legal_authorities
In this title, the term “agency” means a department, agency, or instrumentality of the United States Government.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In General.—** If the Secretary of Transportation finds that a trade route determined to be essential under [section 50103 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title46-section50103&num=0&edition=prelim) cannot be successfully developed and maintained and the Secretary’s replacement program cannot be achieved under private operation of the trade route by a citizen of the United States with vessels documented under chapter 121 of this title, without further aid by the United States Government in addition to the financial aid authorized under title V of the Merchant Marine Act, 1936, the Secretary, without advertisement or competition, may—
(1) have constructed, in private shipyards or in navy yards, vessels of the types necessary for the trade route; and
(2) demise charter those new vessels to the operator of vessels of the United States established on the trade route.
**(b) Amount of Charter Hire.—**
(1) **In general.—** — The annual charter hire under subsection (a) shall be at least 4 percent of the price (referred to in this section as the “foreign cost”) at which the vessel would be sold if constructed under title V of the Merchant Marine Act, 1936, plus—
(A) a percentage of the depreciated foreign cost computed annually determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the Government with remaining periods to maturity comparable to the term of the charter, adjusted to the nearest one-eighth percent; and
(B) an allowance adequate in the judgment of the Secretary of Transportation to cover administrative costs.
(2) **Depreciation.—** — Depreciation under paragraph (1)(A) shall be based on—
(A) a 25-year life for dry-
Source: Supplied U.S. Code snapshot — release unconfirmed · 46 U.S.C. § 57531
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Federal law — U.S. Code and appendices · legal_authorities
Page 520
TITLE 46—SHIPPING
§ 57513
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
57512(a) ......
46 App.:1196(a) (1st
sentence).
June 29, 1936, ch. 858, title
VII, § 706(a), (b) (1st sen-
tence
related
to
an-
nouncement),
49
Stat.
2009;
Pub.
L.
97–31,
§ 12(108), Aug. 6, 1981, 95
Stat. 163.
57512(b) ......
46 App.:1196(a) (last
sentence), (b) (1st
sentence related
to announce-
ment).
57512(c) ......
46 App.:1193(c) (re-
lated to char-
tering).
June 29, 1936, ch. 858, title
VII, § 703(c) (related to
chartering), 49 Stat. 2008;
Pub.
L.
97–31,
§ 12(105),
Aug. 6, 1981, 95 Stat. 163.
Subsection (b)(4) is substituted for ‘‘announce in his
advertisements for bids that the Secretary of Transpor-
tation reserves the right to, reject any and all bids sub-
mitted’’ in 46 App. U.S.C. 1196(b) to improve the organi-
zation.
In subsection (c), the words ‘‘Bids required under this
section’’ are substituted for ‘‘All bids required by the
Secretary of Transportation . . . and for the chartering
of the Secretary’s vessels hereinafter provided for’’ to
eliminate unnecessary words. The word ‘‘hour’’ is omit-
ted as covered by ‘‘time’’.
§ 57513. Minimum bid
The Secretary of Transportation shall reject
any bid for the charter under this subchapter of
a vessel constructed under this subtitle or the
Merchant Marine Act, 1936, if the charter hire
offered is lower than the minimum charter hire
would be if the vessel were chartered under sec-
tion 57531 of this title.
(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1666.)
HISTORICAL AND REVISION NOTES
Revised
Section
Source (U.S. Code)
Source (Statutes at Large)
57513 ..........
46 App.:1196(b) (last
sentence).
June 29, 1936, ch. 858, title
VII,
§
Source: Supplied 2024 U.S. Code historical extraction · 46 U.S.C. § 57513
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.