The Future of Nuclear Power in the Maritime Industry

The next decade will be crucial for determining the role of nuclear power in the maritime industry. While holding the potential to significantly contribute to the decarbonization of shipping and port operations, nuclear power still needs a comprehensive and secure framework to be implemented, according to a new study conducted by the New Energies Coalition.

Formed in 2019 by French shipping giant CMA CGM, the New Energies coalition aims to accelerate the development of energy and technology solutions to reduce the sector’s impact on climate change.

The coalition has recently presented a whitepaper titled ‘The role of nuclear in shipping’, outlining the main conclusions of the study carried out by its dedicated working group, consisting of Bureau Veritas, CMA CGM, PSA Singapore, and ONET in collaboration with one of the major global consultancies.

The whitepaper explores the potential of nuclear power as a viable solution for marine propulsion, coastal power generation, and port-based energy production, highlighting the environmental benefits, technological readiness, and regulatory landscape, as well as the key conditions for its large-scale industrial development.

Key Findings and Recommendations

The study found that realizing the potential of nuclear power in the future of maritime transportation and port operations will require coordinated efforts from industry stakeholders, regulatory bodies, and governments. In terms of technological readiness, both Generation III+ and emerging Generation IV small modular reactors (SMRs) show promise for maritime applications.

The study also recognized the environmental benefits of nuclear propulsion and power generation as a carbon-free alternative that aligns with stringent emission regulations and decarbonization goals.

Furthermore, the need for updated and harmonized regulations building on existing international conventions was underlined. When it comes to economic viability, the whitepaper argues that nuclear energy could become an economically competitive option, especially as SMR designs reach industrial-scale production.

Challenges and Opportunities

Several ports and shipping routes were identified as “potential early adopters”, and pilot projects and state-sponsored initiatives were deemed essential in demonstrating the feasibility and safety of maritime nuclear applications. Key challenges for implementing nuclear power in the maritime industry include regulatory harmonization, supply chain development, and public acceptance.

Moving forward, four critical areas were identified for further analysis and development: radioactive waste management, crew training and qualification, cybersecurity, and insurance and shared liability.

Conclusion

The coalition concluded that with concerted effort, commercial deployment of nuclear-powered vessels could be seen by 2040-2045, with earlier projects for port-based SMRs and near-shore floating nuclear plants. Nuclear power holds the potential to significantly contribute to the decarbonization of the maritime sector, offering an additional pathway for reaching greenhouse gas targets for shipping while removing business uncertainty due to fuel cost volatility.

Nuclear power could be an effective decarbonization choice for larger ships in the world fleet, and ongoing studies continue to explore its viability and benefits. The future of nuclear power in the maritime industry looks promising, paving the way for a greener and more sustainable shipping and port operations.