delete Ships (Capital Grants) Regulations (Amendment)
Federal regulations providing capital grants to the shipping industry, intended to support ship building, acquisition, or modernization through direct financial assistance.
Capital grants are government interference in market allocation of capital, picking winners and losers in the shipping sector. Such subsidies distort competition, prop up inefficient operators who cannot survive on market merits alone, create dependency on political favor rather than consumer satisfaction, and redirect resources from more productive uses determined by voluntary exchange. The shipping industry can access capital through private markets when services are valued by customers.