Speaking at the Core Power New Nuclear for Maritime Houston Summit, ABS Chairman and CEO Christopher J. Wiernicki emphasized the game-changing potential of new nuclear technology in achieving global decarbonization and transforming commercial shipping.
Nuclear’s Disruptive Potential in Shipping
Wiernicki outlined several key benefits of nuclear-powered vessels:
- Zero-carbon operations with higher power output and faster transit speeds.
- Increased cargo storage by eliminating the need for fuel tanks.
- Reverse cold ironing, allowing ships to supply power to ports.
- Elimination of fuel bunkering costs over the vessel’s lifespan.
Economic Viability
Despite concerns over nuclear costs, Wiernicki argued that new nuclear is cost-competitive over a vessel’s lifetime:
- Comparable to fossil fuel options when factoring in fuel costs, compliance expenses, and residual value.
- More attractive than green fuels, which remain costly and supply-constrained.
Challenges and Regulatory Framework
While the technology holds tremendous promise, Wiernicki stressed the need for:
- Public-private partnerships and a new commercial model.
- Revised insurance structures to accommodate nuclear vessels.
- Global regulatory alignment and standardized licensing.
- Investment in crew training and public awareness campaigns.
ABS Leadership in Nuclear Shipping
ABS has taken a pioneering role by publishing the first industry rules for floating nuclear power in October 2023. These guidelines, titled “ABS Requirements for Nuclear Power Systems for Marine and Offshore Applications,” are now available for download.
As new nuclear technology advances, its adoption could reshape maritime operations and accelerate the path to net-zero emissions.
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Source: ABS
