CORE POWER: SHIPS for America Act will inject capital into US shipbuilding, nuclear technologies

UK-based maritime nuclear innovation company CORE POWER has lent its voice to proposed legislation being reintroduced in the US Senate that calls for a transformation of the US shipping sector.

The Shipbuilding and Harbor Infrastructure for Prosperity and Security (SHIPS) for America Act, which was first introduced in December 2024 under the previous administration, aims to revitalize the US shipbuilding and commercial maritime industries.

The move is said to chime with US President Donald Trump’s recent call to boost the American maritime industry to compete with China.

“CORE POWER unequivocally endorses the SHIPS for America Act of 2025. The technological edge it will advance through its support of US-flagged, large civil nuclear-powered ships will allow America to regain global maritime leadership. Moreover, it will strengthen American supply chains and the workforce to the mutual benefit of both our private maritime sector and the great US Navy,” Mikal Bøe, Chairman and CEO of CORE POWER, commented.

“Passing this bill will unleash immense private capital into shipbuilding and the US-built civil nuclear technologies – now being created here – which America needs to power a globally dominant maritime fleet of the future.”

China currently builds over 50% of the world’s ships – more than the rest of the world combined. The SHIPS for America Act aims to close this gap and boost the US Merchant Marine by establishing national oversight and consistent funding for US maritime policy, making US-flagged vessels commercially competitive in international commerce by cutting red tape, rebuilding the US shipyard industrial base, and expanding and strengthening mariner and shipyard worker recruitment, training and retention.

“After decades of dangerously neglecting our shipbuilding industry, we’re finally doing something about it. The SHIPS for America Act is the most ambitious effort in a generation to revitalize the US shipbuilding and commercial maritime industries and counter China’s dominance over the oceans,” Senator Mark Kelly, who along with other legislators reintroduced the bill, said.

In related news, CORE POWER recently launched a US-anchored maritime civil nuclear program titled Liberty that aims to bring floating nuclear power to market by the mid-2030s.

The program will lay the foundation for the use of nuclear power in the civil maritime sector, CORE POWER claimed, adding it will encompass modular construction of advanced fission technology and create the regulatory and supply chain frameworks necessary to enable this technology to be rolled out worldwide.

In January 2025, CORE POWER also partnered with naval architecture firm Glosten for the design of a floating nuclear power plant (FNPP) for ports in the United States.

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