On the recordSeptember 19, 1996
It is certainly our intention that carriers do not automatically receive the U.S.-flag vessel contract price if an MSP carrier subcontracts its work to a foreign-flag vessel. It is our intent that the Federal Government be able to renegotiate such contracts, based on the cost of the replacement vessel. Again, I thank the Senator for making this clarification.
Said by
Trent Lott
Source
govinfo.gov