The rise of small modular reactors (SMRs) points to a step change for nuclear applications in shipping if regulatory hurdles can be overcome, classification society Lloyd’s Register (LR) said in a new report.
Nuclear power could transform the maritime industry with emissions-free shipping, whilst extending the life cycle of vessels and removing the uncertainty of fuel and refuelling infrastructure development but regulation and safety considerations must be addressed for its widespread commercial adoption, according to the “Fuel for Thought: Nuclear report” .
The report assesses the opportunity presented by nuclear for commercial maritime given its proven track record in naval applications, with the study pointing to the role of new SMRs in bringing to market suitable low-maintenance reactors to meet the propulsion and energy requirements of commercial ships.
As explained, the commercial relationships between shipowners and energy producers will be altered as power is likely to be leased from reactor owners, separating the shipowner from the complexities of licensing and operating nuclear technology. SMRs are said to represent ‘a leap forward’ in reactor design, emphasizing safety, efficiency, and modularity for streamlined production.
As SMR technology matures and regulatory clarity increases, ship designs optimized for nuclear propulsion will emerge, ushering in a new era of efficient and environmentally friendly vessels.