Which of the following stipulates the salvage policy?

The correct answer highlights that federal maritime law is the primary governing body that outlines salvage policy. This legal framework is crucial for regulating maritime activities, including the salvage of vessels and cargo at sea. Federal statutes, such as the Salvage Act of 1851, establish the rights of salvors, the intentions behind salvage operations, and the criteria for compensation. These laws provide a structured approach to salvage operations, ensuring that they are conducted in a fair manner and under established legal guidelines.

Understanding federal maritime law is essential for coxswains and mariners, as it directly impacts how salvage operations are conducted and the responsibilities of all parties involved. This context helps reinforce why this answer is the most appropriate and accurate among the options available.

While national safety guidelines, local boating regulations, and state environmental policies may address various aspects of boating safety and environmental concern, they do not specifically cover the legal framework governing salvage operations, which is firmly situated within federal maritime law.