The maritime industry could be on the brink of a significant advancement as Danish shipping group Maersk, maritime services firm Lloyd’s Register (LR), and UK-based nuclear start-up CORE POWER have launched a joint regulatory assessment study to investigate the feasibility of nuclear-powered container ships using fourth-generation reactors.
This collaboration aims to facilitate emissions-free operations, more agile service networks, and greater efficiency throughout the supply chain.
The study, which will commence in September and last 12 months, will focus on the regulatory frameworks and safety requirements necessary for a nuclear container ship to undertake cargo operations at a European port. By bringing together the expertise of LR, CORE POWER, a leading Port Authority, and Maersk, the project seeks to comprehensively understand the operational and regulatory aspects of implementing nuclear power in container shipping.
One of the primary objectives of the study is to investigate the requirements for updated safety rules and improved operational and regulatory understanding. This will provide invaluable insights for members of the maritime value chain who are exploring the business case for nuclear power to achieve net-zero greenhouse gas emissions, in line with the International Maritime Organization’s (IMO) targets set in July 2023.
Adopting nuclear propulsion in container shipping could revolutionize the industry, offering numerous benefits such as emissions-free operations, more agile service networks, and enhanced efficiency. With shipping transporting approximately 90% of world trade and accounting for around 1,076 million tonnes of CO2 emissions annually, the transition to green fuels is crucial. Nuclear power, particularly with advanced fourth-generation reactor designs, could emerge as a viable decarbonization pathway for the logistics industry within 10 to 15 years.
Several challenges must be addressed before nuclear power can be widely adopted in the maritime sector. These include safety concerns, waste management, and regulatory acceptance across regions. The joint study aims to tackle these issues head-on, with CORE POWER emphasizing the importance of establishing a standards framework for the commercial insurability of floating nuclear power plants and nuclear-powered ships operating in nearshore environments, ports, and waterways.
Maersk, having continuously explored diverse low-emission energy options since launching its energy transition strategy in 2018, acknowledges that nuclear power’s downsides have outweighed its benefits thus far. Nevertheless, the company remains open to assessing the technology alongside other low-emission solutions, recognizing its potential to mature into a decarbonization pathway if the challenges can be overcome through the development of advanced reactor designs.
The launch of this joint assessment study could be the beginning of an exciting journey towards unlocking nuclear power’s potential in the maritime industry. If successful, it could significantly reduce greenhouse gas emissions, helping the industry meet the IMO’s ambitious targets. As the study progresses over the next 12 months, stakeholders will eagerly await the findings, which could shape the future of container shipping and contribute to a more sustainable global trade network.
TLDR
- Maersk, Lloyd’s Register, and CORE POWER launch a joint study on the feasibility of nuclear-powered container ships
- The study aims to establish regulatory frameworks and safety requirements for fourth-generation reactors
- Potential benefits include emissions-free operations, agile service networks, and enhanced efficiency
- Challenges to be addressed: safety, waste management, and regulatory acceptance
- Nuclear power could become a decarbonization pathway for logistics within 10-15 years