The US Maritime Administration (MARAD) and Core Power have signed a Memorandum of Cooperation to accelerate the development and deployment of US-flagged commercial vessels powered by small modular nuclear reactors (SMRs). The partnership will establish pathways covering regulatory approval, port operations, mariner credentialing, nuclear fuel and lifecycle services, insurance and financing. It is MARAD’s third SMR-related agreement under a broader US initiative to develop nuclear propulsion for commercial shipping, following agreements with the ports of Long Beach and Corpus Christi to establish testing areas for nuclear-powered vessels. The initiative aims to position the United States as a leader in next-generation maritime propulsion while establishing the regulatory, safety and commercial framework needed for deployment.
