Coast Guard Authorization Act of 1987

Coast Guard Authorization Act of 1987 - Authorizes appropriations for the Coast Guard for FY 1988 and 1989 for: (1) operations and maintenance; (2) acquisition, construction, rebuilding, and improvement of aids to navigation, shore facilities, vessels, and aircraft; (3) research, development, test, and evaluation; (4) retirement pay and benefits; and (5) alteration or removal of bridges over navigable waters constituting obstructions to navigation.

Authorizes the end strength for active-duty personnel of the Coast Guard for FY 1988 and 1989.

Specifies the authorized average military training student load for the Coast Guard for FY 1988 and 1989.

Amends Federal law to add the Coast Guard to a provision relating to defense of certain suits arising out of legal malpractice.

Amends the Inland Navigational Rules Act of 1980 to: (1) substitute "mineclearance" for "minesweeping" in certain provisions; and (2) increase the danger zone around a mineclearance vessel.

Declares a specified tributary of Newton Creek in New Jersey to be a nonnavigable waterway of the United States for purposes of the General Bridge Act of 1946.

Authorizes the Secretary of the department in which the Coast Guard is operating (Secretary) to perform all functions of the Secretary of Defense, under existing provisions of the Demonstration Cities and Metropolitan Development Act of 1966, for purposes of assisting civilian and military employees of the Coast Guard with regard to any closing, in whole or in part, of an installation ordered by the Coast Guard, subject to certain limitations and terms.

Directs the Secretary to establish a full-time, permanent base in South Carolina for the operation of at least one helicopter, with necessary support and operational personnel.

Directs the Secretary to evaluate and report to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Merchant Marine and Fisheries of the House of Representatives regarding the advantages and disadvantages of acquisition by the Coast Guard of a mobile semisubmersible law enforcement base.

Directs the Secretary of Transportation, in consultation with the Secretary of Defense, the Secretary of Commerce, the Director of the National Science Foundation, and others, to review existing national needs for polar icebreakers. Directs the Secretary to submit a report concerning such review to specified congressional committees.

Prohibits the construction of Coast Guard vessels or of a major component of hull or superstructure of Coast Guard vessels in a foreign shipyard. Allows the President to authorize exceptions to such prohibition if it is in the national security interest. Requires notification to the Congress of such determination.