Mich. Comp. Laws § 750.104

Sec. 104. Fitting out vessel with intent to destroy the same—Any person who shall lade, equip or fit out, or assist in lading, equipping or fitting out any ship, boat or vessel, with intent that the same shall be cast away, burnt, sunk or otherwise destroyed, to injure or defraud any owner or insurer of such ship, boat or vessel, or of any property laden on board the same, shall be guilty of a felony.