Core Power teams up with US Administration on maritime nuclear

Core Power said it is targeting first construction "from 2028" under a newly announced federal-private cooperation framework to accelerate the commercial,鈥痠ndustrial鈥痑nd regulatory pathway for a future fleet of US-flagged nuclear-powered merchant ships.
 
(Image: Core Power)

The US Department of Transportation's Maritime Administration (MARAD) and Core Power (US) Inc announced their signature of a non-exclusive Memorandum of Cooperation鈥痶o collaborate on maritime nuclear frameworks in Washington DC on Monday. It 鈥痜ollows a recent Request for Information鈥痜rom the maritime administration for鈥痑 commercially鈥痸iable, system-centric approach to nuclear power in the US marine transportation system.鈥��

The framework links the US Maritime Action Plan - released in February following on from April 2025's , Restoring America’s Maritime Dominance - with allied鈥痵hipbuilding鈥痑nd specialist US nuclear integration, Core Power said. The Action Plan has a three-pillar strategy aiming to rebuild an industrial base the Administration has identified as central to economic and national security, and "re-establish" the USA as a global maritime power.

Nuclear propulsion "changes the basic operating model" for commercial shipping, according to Core Power, which is developing an鈥痠ndustrial platform for fleet-scale maritime nuclear infrastructure. A reactor provides鈥痵ustained high power for years between refuelling and avoids鈥痙ependence on conventional marine fuel supply, while eliminating emissions from propulsion.鈥�"The commercial task is to build a complete system that is safe, secure, licensable, insurable, financeable鈥痑nd operable at fleet scale, with clear responsibilities鈥痜or nuclear integration, fuel, ports, workforce鈥痑nd through-life support," the company says.

Globally, commercial shipbuilding today is dominated by China - and China is already moving toward nuclear-powered commercial shipping, a fact which should "focus minds in Washington". Core Power founder and CEO Mikal Bøe said.

"The United States has seven decades of nuclear-at-sea experience, world-class鈥痑llies鈥痑nd the nuclear鈥痚xpertise鈥痶o lead the next generation. Japan and Korea can accelerate conventional ship construction while America builds the specialist nuclear-grade integration and lifecycle capability at home鈥�-鈥痗apability that can also strengthen the wider maritime industrial base.鈥�

“We are not asking for another study. Core Power is targeting first construction鈥痵tarts鈥痜rom 2028. Government can set鈥痶he direction鈥痑nd coordinate; private industry鈥痬ust鈥痬ove the money and the steel.鈥疻e are honoured to be working with MARAD on this landmark programme."

The agreement鈥痵igned by Core Power and the Department of Transportation's Maritime Administration aims to turn policy into an actionable commercial pathway, creating a forum for government,鈥痠ndustry鈥痑nd other stakeholders to work through regulatory acceptance, port operations, workforce credentialling, fuel and lifecycle services, insurance and finance, industrial鈥痗apacity鈥痑nd potential federal demand structures.鈥疪educing uncertainty across these areas will enable private capital to commit to ships,鈥痽ards鈥痑nd supporting infrastructure, Core Power said.

The company said it plans to develop a dedicated US nuclear-grade integration and lifecycle shipyard鈥痜or nuclear鈥痠nstallation,鈥� initial鈥痜uelling, testing, commissioning, refuelling, defuelling and "through-life" support. Conventional hulls and marine systems鈥痺ill be鈥痓uilt at commercial shipyards, leveraging allied shipbuilding capacity to accelerate conventional hull construction while building鈥痶he鈥痵pecialist nuclear integration and lifecycle capability in the United States.鈥�

"President Trump has made it clear that American energy dominance and maritime strength go hand in hand," Stephen Carmel, Administrator of the Maritime Administration, said. "This framework ensures that the United States leads the world with a secure US-flagged fleet. Nuclear propulsion is a serious commercial opportunity, but it must be approached as a complete system鈥�-鈥痵afe, secure, licensable, and investable."

The announcement came ahead of the launch of the International Atomic 抖阴传媒在线 Agency's Atomic Technologies Licensed for Applications at Sea (ATLAS) initiative, which aims to "support the maritime industry's exploration of small modular reactors to power civilian ships and to provide offshore energy, as operators consider alternative fuels and seek to strengthen long-term energy security". The IAEA ministerial launch event, hosted by the US, is taking place on Wednesday and Thursday in Washington DC.

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