Regulatory assessment of nuclear-powered cargo ships
A joint development project agreement has been signed between Lloyd's Register, Core Power and AP Moller - Maersk to conduct a regulatory assessment study to determine the safety and regulatory considerations for a potential nuclear-propelled containership to undertake cargo operations at a port in Europe.
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The joint study will investigate the requirements for updated safety rules along with the improved operational and regulatory understanding that is needed for the application of nuclear power in container shipping. In addition, the study will provide insight for members of the maritime value chain who are exploring the business case for nuclear power to help shape their fleet strategy towards achieving net-zero greenhouse gas emissions.
The study will bring together the expertise of technical and professional services organisation and maritime classification society Lloyd's Register, Core Power's experience of developing advanced nuclear energy technology for maritime applications, a leading Port Authority and Maersk's extensive experience in shipping and logistics.
The shipping industry consumes some 350 million tonnes of fossil fuel annually and accounts for about 3% of total worldwide carbon emissions. In July last year, the shipping industry, via the International Maritime Organization (IMO), approved new targets for greenhouse gas emission reductions, aiming to reach net-zero emissions by, or around, 2050.
"The initiation of this joint study marks the beginning of an exciting journey towards unlocking the potential of nuclear power in the maritime industry, paving the way for emissions-free operations, more agile service networks and greater efficiency through the supply chain," said Lloyd's Register CEO Nick Brown. "A multi-fuel pathway to decarbonising the maritime industry is crucial to ensuring we as an industry meet the IMO's emission reduction targets and nuclear propulsion shows signs of playing a key role in this energy transition."
Last month, Lloyd's Register released a report that concluded 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. However, it said regulation and safety considerations must be addressed for its widespread commercial adoption.
According to the report, 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.
"There's no net-zero without nuclear," Core Power CEO Mikal Bøe said. "A critical key to unlocking the vast potential for nuclear energy to transform how the maritime sector is powered, is the standards framework for commercial insurability of floating nuclear power plants and nuclear-powered ships that would operate in nearshore environments, ports, and waterways. We're immensely pleased to be working with some of Europe's most respected industry participants to set out the conditions for how this can be achieved."
Ole Graa Jakobsen, Head of Fleet Technology at Maersk, added: "Since Maersk launched its energy transition strategy in 2018, we have continuously explored diverse low-emission energy options for our assets. Nuclear power holds a number of challenges related to, for example, safety, waste management, and regulatory acceptance across regions, and so far, the downsides have clearly outweighed the benefits of the technology.
"If these challenges can be addressed by development of the new so-called fourth-generation reactor designs, nuclear power could potentially mature into another possible decarbonisation pathway for the logistics industry 10 to 15 years in the future. Therefore, we continue to monitor and assess this technology, along with all other low-emission solutions."
In December last year, Maersk CEO Vincent Clerc was one of five heads of leading global shipping lines to sign a joint declaration during COP28 in Dubai calling for an end date for fossil-only powered new-builds and urging the IMO to accelerate the transition to green fuels.
At the time, Clerc said the company "wants to accelerate the green transition in shipping and logistics and a crucial next step is to introduce regulatory conditions which ensure that we create the most greenhouse gas emission reductions per invested dollar".
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