Promotional Programs » Capital Construction Fund
The Merchant Marine Act of 1970 established the Capital Construction Fund (CCF) program. The program assists operators in accumulating capital to build, acquire, and reconstruct vessels through the deferral of Federal income taxes on certain deposits as defined in Section 607 of the Act, as amended (e.g. from vessel operations, proceeds from the sale or loss of vessels, and vessel depreciation). The CCF program enables operators to build vessels for the U.S. foreign trade, Great Lakes, noncontiguous domestic trade (e.g. between the West Coast and Hawaii), and the fisheries of the United States. It aids in the construction, reconstruction, or acquisition of a wide variety of vessels, including containerships, tankers, bulk carriers, tugs, barges, supply vessels, ferries, and passenger vessels