A bill to amend section 27 of the Merchant Marine Act, 1920, to exempt under certain conditions, from the effect of such section the transportation of merchandise between points in the State of Alaska and points in the State of Hawaii.

Permits the transportation of merchandise in other than domestic-built or rebuilt and documented vessels between points in the State of Alaska and points in the State of Hawaii whenever the Secretary of Commerce, after notice and opportunity for hearing, determines that there is no domestic vessel reasonably available to serve between such points for the transportation of such merchandise. Provides for the termination of this exception whenever the Secretary determines that the conditions required for the exception no longer exist. (Amends 46 U.S.C. 883)