(a) REQUIREMENTS.-A coastwise endorsement may be issued for a vessel that-
(1) satisfies the requirements of section 12103 of this title;
(A) was built in the United States; or
(B) if not built in the United States-
(i) was captured in war by citizens of the United States and lawfully condemned as prize;
(ii) was adjudged to be forfeited for a breach of the laws of the United States; or
(iii) qualifies as a wrecked vessel under section 12107 of this title; and
(3) otherwise qualifies under the laws of the United States to engage in the coastwise trade.
(b) AUTHORIZED ACTIVITY.-Subject to the laws of the United States regulating the coastwise trade, a vessel for which a coastwise endorsement is issued may engage in the coastwise trade.