46 U.S.C. § 57111: Definition of obsolete vessel

In this chapter, the term “obsolete vessel” means a vessel that—(1) is or will be in the custody and control of the Maritime Administration for purposes of disposing of the vessel; and (2) has been determined by the Secretary of Transportation to be of insufficient value, with respect to the programs of the Maritime Administration, to warrant—(A) preserving for future use or spare parts harvesting; or (B) retaining in the National Defense Reserve Fleet.