Great savings potential through nuclear drives?
The use of nuclear power in shipping could significantly cut fuel costs and emissions, according to a Lloyd’s Register (LR) study, though environmental concerns remain. Alongside fuels like ammonia and methanol, nuclear propulsion is gaining interest for its low emissions, high performance, and potential cost savings.
South Korea’s HD KSOE recently received DNV approval to build a 15,000 TEU container ship powered by Small Modular Reactors (SMRs). ABS has also evaluated the technology. LR’s new study, conducted with Seaspan and climate consultancy Lucid Catalyst, found that nuclear-powered container ships could sharply reduce greenhouse gas emissions and save nearly 70 million dollars annually, while enabling faster transit times without compromising safety.
According to LR, nuclear ships could eliminate up to 50 million dollars in yearly fuel costs and 18 million dollars in regulatory penalties. A nuclear-powered 15,000 TEU vessel travelling at 25 knots could carry up to 38% more cargo per year due to higher speed and additional space gained from removing fuel tanks.
To scale the technology, LR says the industry needs a strong supply-chain strategy and a commitment to purchasing more than 1,000 SMR units within 10–15 years. Modular reactors could then be produced at competitive costs, with each unit operating for about five years between refuelling.
Within four years of program launch, nuclear propulsion systems could reach market maturity, with total costs below 4,000 dollars per kW and fuel costs under 50 dollars per MWh. Market potential may reach 40–90 GW by 2050, depending on regulations and industry adoption.
Nuclear propulsion is not entirely new: ships like the German-built Otto Hahn, as well as U.S., Japanese, and Russian vessels, have used it before—Russian icebreakers still do today.
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