delete PART 289—INSURANCE OF CONSTRUCTION-DIFFERENTIAL SUBSIDY VESSELS, OPERATING-DIFFERENTIAL SUBSIDY VESSELS AND OF VESSELS SOLD OR ADJUSTED UNDER THE MERCHANT SHIP SALES ACT 1946
This regulation defines the United States' financial interest in subsidized merchant vessels and establishes insurance requirements for those vessels, covering construction-differential subsidies and operating-differential subsidies under various maritime acts.
This is an obsolete relic from mid-20th century maritime subsidies that no longer serves a purpose - the subsidy programs have ended and the regulation creates unnecessary bureaucratic overhead for a private industry that should self-manage insurance without federal involvement.