174.355—Definitions.
New ship means a ship:
(1)
For which the building contract is placed on or after February 1, 1992; or
(2)
In the absence of a building contract, the keel of which is laid or which is at a similar stage of construction on or after August 1, 1992; or
(3)
The delivery of which is on or after February 1, 1997; or
(4)
For which application for reflagging is made on or after February 1, 1997; or
(5)
Which has undergone a major conversion:
(i)
For which the contract is placed on or after February 1, 1992; or
(ii)
In the absence of a contract, the construction work of which is begun on or after August 1, 1992; or
(iii)
Which is completed on or after February 1, 1997.