Bureau Veritas Marine & Offshore (BV) has published a summary report titled ‘Maritime Nuclear Development’ which outlines how the technological viability, alongside significant safety improvements in modern nuclear propulsion systems, could lead to full operational deployment by 2045.
However, the report stresses that while nuclear ship propulsion, and floating nuclear power plants (FNPPs), are technologically feasible, regulatory and liability frameworks must urgently evolve to enable safe and sustainable deployment.
The study highlights the need for a greater convergence between the IMO and the International Atomic Energy Agency (IAEA) to create a coherent global framework for nuclear-powered shipping. Existing conventions, including the 1981 Nuclear Ship Code, are considered ill-equipped to support the development and integration of modern nuclear systems and must be revised if the technology is to move beyond pilot projects.
BV’s report confirms that the first small modular reactors (SMRs) could be deployed in maritime applications from as early as 2030, beginning with port-to-port operations and national-level projects, before wider international adoption. Furthermore, the report details the improved safety profile of Gen IV SMR technology (also known as advanced modular reactors or AMRs), which brings the promise of passive safety designs and provides ‘walk-away-safe’ conditions for a shut down without external power of human action.
However, in order to facilitate the deployment of SMRs, new regulatory provisions and liabilities frameworks are needed to accommodate the unique aspects of civil maritime nuclear applications. Growing momentum is already visible, with initiatives such as the IAEA’s atomic technology license for applications at sea (ATLAS) expected project, combined with the IMO’s first steps to review the 1981 nuclear ship code. However, BV believes that if the industry is to realise the potential of nuclear propulsion technology, renewed cooperation from the insurance community through the reopening of the 1962 Brussels Convention is essential. As dedicated land infrastructure and a robust supply chain will be needed, this will call for greater support for nuclear power as a clean energy source from financial institutions.
Matthieu de Tugny, BV EVP Industrials and Commodities, said: “There is no single option to replace the maritime industry’s reliance on fossil fuels, but nuclear power has a clear and vital role to play. As work to update insurance and regulatory frameworks progresses in 2025, nuclear energy could become a viable solution for a large segment of the global fleet. The maritime sector has the potential to catalyse the development of small modular reactors. Accelerating the deployment of nuclear energy offers an effective means of drastically reducing shipping emissions and supporting a comprehensive response to global energy challenges.”
The report can be downloaded here.
