A new paper proposes a framework to support UK development of advanced, safe, small nuclear reactors as a reliable and scalable zero-emission maritime power source.
According to a report from technology company Core Power, marine insurer NorthStandard and classification society Lloyd’s Register (LR), the UK is well positioned to lead the safe development and deployment of new nuclear power systems for commercial ships and floating nuclear power plants (FNPPs). The paper, Advanced Maritime Nuclear: A unique opportunity for the UK, sets out a policy framework for the UK Government to support the deployment of advanced small nuclear reactors on commercial ships and FNPPs. The Department for Transport should include nuclear-powered shipping and FNPPs in an updated Clean Maritime Plan (CMP) and long-term nuclear strategy, the report argues.
Global shipping currently depends on fossil fuels for close to 99% of its energy consumption, but IMO is aiming for shipping’s GHG emissions to reach net zero by around 2050. However, alternative fuels options (including biodiesel, methanol, hydrogen and ammonia) face major cost, production, transportation and use challenges.
In the foreword to the paper, shipbroker Lord Mountevans said: “The UK has the skills, expertise, and history of innovation to lead the development of nuclear-powered shipping. By leveraging our decades of experience with small reactors for the Royal Navy, we can decarbonise maritime transport, create jobs, and strengthen Britain’s position as a clean energy world power.”
The UK pledged to triple nuclear energy generation capacity at COP 28. The Civil Nuclear Roadmap to 2050, published by the previous UK government, envisaged nuclear technologies, from advanced small modular reactors (A-SMRs) to large-scale nuclear plants as part of the UK’s energy mix. These new, safe and advanced nuclear technologies in modular designs, which allow for straightforward manufacturing and regulatory approval processes that enable dramatic energy efficiency gains for global shipping. NorthStandard’s participation in the new paper reflects the role commercial insurability will play in future nuclear operations in the civil maritime space, particularly to cover shipowners’ liability.
Paul Jennings, MD NorthStandard, said: “The ability to commercially insure nuclear propelled ships will be vital to the success of bringing nuclear to maritime. It is important that governments understand the need for a civil marine nuclear liability convention within the framework of IMO and work towards creating an appropriate liability regime.”
With the right investments and policies, the UK can develop a multi-billion-pound industry, according to the report. In addition to zero pollution, nuclear powered ships would not rely on shore power in port and could even feed electricity into the grid. FNPPs could be used to alleviate the issues surrounding shore power and expensive connections to the UK national grid.
Core Power founder and CEO, Mikal Bøe, said: “History has shown that there has never been a great naval power that wasn’t also a great maritime power. Maritime nuclear is the catalyst that can reverse the trajectory of the British shipping sector, creating unique competition to Chinese shipbuilding and ocean transport. The UK has been at the centre of global shipping for centuries, and this report reinforces that maritime nuclear power is not only necessary to improve the energy effectiveness of shipping dramatically but also a £2.5trn economic opportunity. Over time, the cost of inaction will far outweigh the cost of being the champion in this rapidly emerging market.”
LR CCO Andy McKeran added: “As nuclear technology advances toward maritime applications including floating nuclear power plants, global regulatory alignment is crucial. Existing frameworks must be updated to reflect modern reactor designs and operational needs. The UK has the expertise to lead these efforts at the International Maritime Organization (IMO) and with the International Atomic Energy Agency (IAEA), setting the foundation for safe, insurable, and scalable nuclear-powered shipping.”
The paper Advanced Maritime Nuclear: A unique opportunity for the UK can be downloaded here.
