Trump’s Maritime Administration and CORE POWER launch agreement to collaborate on maritime nuclear frameworks
CORE POWER targets first construction from 2028 in a framework that links President Trump’s Maritime Action Plan, allied shipbuilding and specialist U.S. nuclear integration
WASHINGTON, D.C., August 24, 2026 – The United States is moving to make nuclear propulsion part of its commercial maritime revival. The U.S. Department of Transportation's Maritime Administration (MARAD) and CORE POWER (US) Inc. (CORE POWER) today announced a first-of-a-kind federal-private cooperation framework to accelerate the commercial, industrial and regulatory pathway for a future fleet of U.S.-flagged nuclear-powered merchant ships. CORE POWER is targeting first construction from 2028.
The strategic context is urgent. China dominates global commercial shipbuilding and is actively developing nuclear-powered commercial shipping, with state-owned shipbuilders promoting nuclear-powered merchant-vessel concepts and building relevant nuclear manufacturing capability. President Trump’s Maritime Action Plan is intended to reverse U.S. maritime decline, mobilize private investment and rebuild an industrial base the Administration has identified as central to economic and national security.
Mikal Bøe, Founder and CEO of CORE POWER, said:
“China is already moving toward nuclear-powered commercial shipping. That should focus minds in Washington. America does not regain maritime strength by building a better version of yesterday's ship.
“The United States has seven decades of nuclear-at-sea experience, world-class allies and the nuclear expertise to 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 – capability that can also strengthen the wider maritime industrial base.
“We are not asking for another study. CORE POWER is targeting first construction starts from 2028. Government can set the direction and coordinate; private industry must move the money and the steel. We are honored to be working with MARAD on this landmark program. Under Captain Carmel’s and the Administration's visionary leadership, MARAD is the convening authority for this new American industry.
“This is a new dawn for American shipping: making American shipping great again by leading what comes next, not rebuilding what came before."
Why nuclear-powered ships change the equation
For commercial shipping, nuclear propulsion changes the basic operating model. A reactor provides sustained high power for years between refueling, avoids dependence on conventional marine fuel supply and eliminates emissions from propulsion. Nuclear propulsion enables higher sustained speeds without the same fuel-volume and fuel-price trade-offs that constrain conventional vessels.
Nuclear power at sea also has decades of operating experience in naval service. The commercial task is to build a complete system that is safe, secure, licensable, insurable, financeable and operable at fleet scale, with clear responsibilities for nuclear integration, fuel, ports, workforce and through-life support.
Stephen M. Carmel, Administrator of the Maritime Administration, said:
“President Trump has made it clear that American energy dominance and maritime strength go hand in hand. This framework ensures that the United States leads the world with a secure U.S.-flagged fleet. Nuclear propulsion is a serious commercial opportunity, but it must be approached as a complete system – safe, secure, licensable, and investable.
“As we accelerate this vital aspect of American maritime dominance and energy dominance, we are proud to be building this framework with Mikal Bøe and the team at CORE POWER."
The goal of the Memorandum of Cooperation (MOC) is to turn policy into an actionable commercial pathway. It creates a forum for government, industry and other stakeholders to work through regulatory acceptance, port operations, workforce credentialing, fuel and lifecycle services, insurance and finance, industrial capacity and potential federal demand structures. Reducing uncertainty across these areas will enable private capital to commit to ships, yards and supporting infrastructure.
Industrial capability is central to that pathway. CORE POWER plans to develop a dedicated U.S. nuclear-grade integration and lifecycle shipyard for nuclear installation, initial fueling, testing, commissioning, refueling, defueling and through-life support, while conventional hulls and marine systems are built at commercial shipyards. CORE POWER intends to leverage allied shipbuilding capacity to accelerate conventional hull construction while building the specialist nuclear integration and lifecycle capability in the United States.
That U.S. nuclear shipyard supports commercial fleet deployment while also expanding the nuclear-qualified workforce, suppliers and heavy engineering capacity available to the wider U.S. maritime industrial base.
The initiative advances relevant priorities of President Trump's Maritime Action Plan and follows MARAD's recent Request for Information for a commercially viable, system-centric approach to nuclear power in the U.S. marine transportation system.
The MOC was formalized today during a signing ceremony at the U.S. Department of Transportation Headquarters in Washington, D.C. The announcement comes just ahead of the International Atomic Energy Agency's ATLAS launch on nuclear applications at sea on August 26 and 27.
ENDS
Notes to editors
The MOC is non-exclusive. It is not a procurement contract, grant or commitment of federal funds, nor does it commit MARAD to acquire any vessel, technology or service.
First construction from 2028 is a CORE POWER target and is not a MARAD commitment. Timing remains subject to regulatory, commercial, project and industrial readiness.
MARAD published its Request for Information, “Development of a Commercially Viable System-Centric Small Modular Reactor Concept for Deployment in the Marine Transportation System”, in the Federal Register on May 7, 2026. The comment period ended on August 5, 2026.
ATLAS - Atomic Technologies Licensed for Applications at Sea - is an International Atomic Energy Agency initiative. Its launch forum takes place in Washington, D.C. on August 26 and 27, 2026.
About MARAD
Under U.S. Transportation Secretary Sean P. Duffy, the U.S. Maritime Administration (MARAD) is executing President Trump’s Executive Order to Restore Maritime Dominance by revitalizing the U.S. Merchant Marine, modernizing ports, rebuilding shipyard capacity, and bolstering our fleet of U.S.-flagged vessels. From maintaining a fleet of 51 Ready Reserve Force vessels to overseeing 27,000 miles of U.S. Marine Highways, MARAD helps secure America’s economic power and national security. Visit maritime.dot.gov. for more information.
About CORE POWER
CORE POWER is building an industrial platform for fleet-scale maritime nuclear infrastructure. The company will build, integrate and deploy ship-based nuclear energy systems, bringing together selected reactor technologies, maritime and nuclear engineering, commercial hull construction, specialist nuclear integration, regulation, commercial structures and lifecycle support to create complete products: floating nuclear power plants and nuclear-powered commercial ships. CORE POWER operates from London, Washington, D.C. and Tokyo.
Media Contacts and Resources
Maritime Administration
Sydney Plante – Associate Administrator for Strategic Engagement
(202) 993-6827
maradpressoffice@dot.gov
CORE POWER
Everett Rosenfeld – One Strategy Group
everett.rosenfeld@onestrat.com
(410) 978-0733
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