Nuclear technology company Core Power has signed an agreement with the US Department of Transportation’s Maritime Administration (MARAD) to establish a pathway for a fleet of 50 US-flagged nuclear-powered merchant vessels.
The non-exclusive Memorandum of Cooperation will address the requirements for commercial nuclear shipping, including regulation, port operations, crew certification, fuel, insurance, financing and vessel support. Construction of the first ships is targeted for 2028, with first delivery expected around 2033.
The proposed fleet would include containerships and LNG carriers. Core Power estimates that a nuclear-powered vessel could cost about $700 million, compared with roughly $250 million for a conventional ship of similar capacity.
The company argues that the higher upfront cost could be offset by lower fuel consumption, more time at sea and higher sustained speeds. It also estimates that a conventional vessel would need to be 66% larger to carry the same cargo volume.
Under the US concept, shipyards in Japan and South Korea could build the hulls. The nuclear systems would then be installed and commissioned at a dedicated US facility. Core Power is considering Corpus Christi, Texas, and is working with the Port of Corpus Christi Authority on the project.
The proposed facility would handle reactor installation, fuelling, testing, commissioning and defuelling. It would also provide long-term support for the nuclear-powered fleet.
Core Power is pursuing a separate US project for a floating nuclear power plant at a military port. The company says experience from the defence sector could help accelerate the development of commercial maritime nuclear technology.
For shipping, the 50-vessel fleet remains a development-stage proposal. Regulation, port acceptance, financing and nuclear fuel supply still need to be resolved before construction can begin.
