U.S. Maritime Administration partners with Core Power for nuclear commercial ships

The U.S. Maritime Administration (MARAD) has signed a Memorandum of Cooperation with Core Power, a UK-based nuclear technology developer, to explore the development of nuclear-powered commercial ships. This partnership aims to establish a framework for addressing technical and logistical hurdles, including regulatory approval, port operations, crew credentialing, nuclear fuel lifecycle services, insurance, and financing.

The initiative is part of a broader effort by the U.S. Department of Transportation to integrate small modular reactors into the maritime sector. Maritime Administrator Stephen Carmel noted that nuclear propulsion must be approached as a complete, safe, and investable system. Core Power CEO Mikal Boe highlighted the strategic importance of the move, citing the need to compete with China’s progress in nuclear-powered commercial shipping.

In addition to this agreement, U.S. officials are expected to hold talks with representatives from the UK, France, Japan, and South Korea regarding maritime nuclear technology during an upcoming International Atomic Energy Agency (IAEA) meeting in Washington.