Connect with us

Nuclear

Nuclear-powered boxships could unlock USD 68 million in annual savings and cut GHG emissions

Finding is drawn from a new Lloyd’s Register and LucidCatalyst report for Seaspan Corporation Pte Ltd, which examines potential of integrating SMRs into the containership fleet.

Admin

Published

on

RESIZED Chris Pagan

Nuclear-powered containerships have the potential to eliminate bunker costs, cut greenhouse gas (GHG) emissions and deliver faster transit times, while maintaining safety and economic competitiveness, according to findings drawn from a new Lloyd’s Register and LucidCatalyst report, released on Wednesday (26 November), for Seaspan Corporation Pte Ltd. 

The report examines the technical, economic, and regulatory potential of integrating small modular reactors (SMRs) into the containership fleet. LucidCatalyst performed a comprehensive analysis of the costs and benefits for Seaspan’s business model and collaboratively developed requirements that, if met, would create significant value.

For vessel operators, nuclear-powered vessels eliminate their largest operating costs, up to USD 50 million annually in bunker fuel and an estimated USD 18 million in carbon penalties.

According to the analysis, a single 15,000 TEU nuclear-powered containership operating at 25 knots (39% faster than conventional vessels) could deliver up to 38% higher annual cargo capacity compared to conventionally fuelled vessels through a combination of increased speed (enabling 6.3 versus 5 round voyages annually) and 5% additional container space from the elimination of fuel tanks and systems.

The report highlights that translating these requirements into a rigorous, requirements-led supply chain and procurement strategy, through a cross-industry consortium, is essential for widespread success. If industry pledges to purchase more than 1,000 units in 10–15 years, it estimates that modular reactors could be produced for USD 750–1,000 per kilowatt, significantly cheaper than conventional nuclear power plants, and maintained within standard vessel drydock cycles. Each unit would be designed to operate for around five years between refuelling, drastically reducing downtime and providing independence from global bunkering networks.

The study outlines a roadmap showing how manufactured nuclear propulsion units could reach commercial readiness within four years of starting an intensive program, with total system costs below USD 4,000/kW and fuel costs under USD 50/MWh. Market modelling indicates potential uptake of 40–90 GW by 2050, depending on regulatory progress and industry adoption.

The findings also point to best practices for designing a competitive supply chain that provides depth of supply, competition on price and performance, and avoids vendor ‘lock-in’, as well as innovative reactor and fuel-leasing models that could help shipowners and operators manage upfront costs while maintaining safety and regulatory compliance.

The report forms the first phase of a three-part programme. The next stage will focus on concept design and regulatory readiness, including engagement with shipyards, port authorities, and nuclear regulators. A final phase will create a detailed implementation roadmap, outlining risk management, certification, and investment strategies for large-scale deployment.

Meg Dowling, Senior Engineer – Nuclear Technology and Alternative Fuels, Lloyd’s Register, said: “The energy transition and long-term sustainability challenges of shipping demands long-term solutions that can scale. Nuclear propulsion offers not just a decarbonised solution, but a transformative economic opportunity for shipowners and charterers alike. The results of this research give us a strong foundation to define how systems can be integrated within the commercial fleet to provide a credible pathway towards safe, commercially viable, zero-emission shipping.”

Peter Jackson, Chief Technology Officer at Seaspan Corporation Pte. Ltd., said: “As part of our ongoing efforts to find safe and commercially viable energy transition pathways, we have partnered with LR and Lucid Catalyst to explore nuclear propulsion for containerships. Small Modular Reactors (SMR’s) is a very exciting technology offering several desirable benefits for shipowners and operators, as outlined in this report. Naturally there are challenges to overcome, but I am confident that ongoing work in this area and studies like this will soon allow nuclear powered containerships to be operating safely, economically, and emission free.”

Eric Ingersoll, Managing Partner, LucidCatalyst, added: “Nuclear propulsion transforms shipping economics, not just emissions. Our analysis shows that nuclear-powered containerships will likely outcompete conventionally fuelled and green fuelled competitors—dominating their trading routes through superior performance without requiring green premiums. The key to unlocking this advantage is organising the market through sophisticated supply chain and technology strategies. By forming a cross-industry consortium, we can build a responsive supply chain and achieve competitive reactor costs, making nuclear the economically optimal choice for shipowners and charterers alike.”

 

Photo credit: Chris Pagan on Unsplash
Published: 27 November, 2025

Continue Reading

Nuclear

LR, Maersk and ports to examine nuclear-powered transatlantic container shipping route

LR, Maersk and US’ Port of Charleston and UK’s Port of Felixstowe will examine the safety requirements for theoretical deployment of a nuclear-powered containership route between the two ports.

Admin

Published

on

By

LR, Maersk and ports to examine nuclear-powered transatlantic container shipping route

Lloyd’s Register (LR), AP Moller – Maersk (Maersk), the Port of Charleston on the US east coast and the Port of Felixstowe, the largest container port in the UK, on Wednesday (2 September) announced a partnership to establish a Pink Corridor project, to identify and address the operational, security and safeguarding requirements for a theoretical nuclear-powered containership trading between the two ports.

The project will focus on the security and safeguard considerations needed to inform future regulation and support the safe, secure and responsible adoption of nuclear power for trans-Atlantic commercial shipping

Centred on a conceptual nuclear-powered container ship, the Pink Corridor will examine the requirements for theoretical port access on the specified route. Key areas of focus will include ship security, safeguards, cyber resilience, emergency response, insurance regimes and alignment between maritime and nuclear regulatory expectations.

The work is expected to support broader maritime development under the US-UK Technology Prosperity Deal and its bilateral commitment to explore civil maritime nuclear applications, including the potential creation of a shipping corridor between the two nations.

The Pink Corridor aims to provide a structured basis for collaboration, helping stakeholders understand the practical requirements, gaps and future work needed before any potential nuclear maritime corridor could be considered.

Nick Gross, Global Containerships Segment Director, LR, said: “The Pink Corridor joint development programme is an important step for the application of nuclear technology in merchant shipping.

“By taking a practical, collaborative approach, the project will examine the security and safeguards that would need to be addressed for safe operations. The partnership brings together industry-leading players across shipping, ports and classification, reflecting the growing interest in nuclear technology as a route to more sustainable maritime operations.”

Adam Ramsey, Commercial Director, Port of Felixstowe, said: “As the UK’s largest and busiest container port, the Port of Felixstowe is well-positioned to support the Pink Corridor and contribute practical insight to this important early-stage work.

“We are committed to improving the efficiency and resilience of our own operations, while supporting the wider industry as it explores sustainable, long-term propulsion options for global trade.”

Tom Boyle, SC Ports’ Director of Vessel Operations and Carrier Sales, said: “As a major U.S. East Coast port, Charleston is always looking for innovative, cost effective and sustainable ways to move freight. The conceptual Pink Corridor project allows for the study of the possibility of a nuclear-powered maritime corridor.” 

The collaboration builds on LR and CORE POWER’s 2024 regulatory assessment study, which was formalised with Maersk through a joint development project exploring the safety, operational and regulatory requirements for applying advanced nuclear power to container shipping.

The outcomes of the initial phase of the Pink Corridor project will inform the scope of a potential second phase, including areas requiring further study across engineering, regulatory, legislative, security and safeguards frameworks for nuclear merchant ships.

 

Photo credit: Lloyd’s Register
Published: 3 September, 2026

Continue Reading

Alternative Fuels

DNV report: Regulatory uncertainty demands fleet strategies built for multiple futures

Report examines four regulatory scenarios, ranging from adoption of IMO NZF in its current form to its outright rejection, energy efficiency uptake, and long-term bunker fuel and technology strategies.

Admin

Published

on

By

DNV report: Regulatory uncertainty demands fleet strategies built for multiple futures

Regulatory uncertainty is increasing pressure on shipowners to make investment decisions that remain viable across multiple future scenarios, said classification society DNV on Thursday (27 August). 

According to DNV’s 10th Maritime Forecast to 2050, stronger global regulatory signals could accelerate the uptake of energy-efficiency measures, enabling the global fleet to consume up to 25% less energy by 2050 compared to a scenario where regulation is driven by regions.

The report examines four regulatory scenarios, ranging from adoption of the IMO Net-Zero Framework (NZF) in its current form to its outright rejection, which could lead to a period of prolonged regulatory gridlock, and explores the implications of these outcomes for fuel demand, energy efficiency uptake, and long-term fleet fuel and technology strategies.

Cristina Saenz de Santa Maria, CEO Maritime, DNV, said: “Ships ordered today will operate well beyond 2050, but many of the factors shaping their future performance remain uncertain. Regulatory requirements are advancing faster than the fuel, infrastructure, and technological systems needed to support them, making long-term investment decisions increasingly complex. The industry therefore needs greater clarity and alignment among all stakeholders to provide the confidence required for long-term investment. In the meantime, shipowners need strategies that deliver benefits today while remaining resilient across a range of regulatory and market outcomes.”

Energy efficiency is one of the most immediate and practical levers available to shipowners, delivering value across regulatory outcomes whether implemented at the newbuild stage or as a retrofit. A case study of a hydrodynamic measures retrofit on a 5,000 TEU container vessel showed potential annual fuel savings of 16%, with a payback time of around one to four years depending on future fuel prices. Retrofits can add similar value across many ship types and with sufficient planning can typically be completed during a standard class-renewal dry docking.

The development of the marine low-GHG fuel market remains a key challenge. While significant progress has been made in expanding alternative-fuel capabilities of vessels, scaling fuel production depends on confidence that demand will materialize. DNV projects shipping demand for low-GHG fuels to range from 4 to 22 Mtoe by 2030 and 33 to 185 Mtoe by 2050, depending on regulatory outcomes, with uptake also shaped by future uptake of shore power, plug-in hybridization, nuclear power, and onboard carbon capture systems.

Current project pipelines indicate a maximum global supply of 270 Mtoe by 2030, although actual volumes are likely to be lower due to project delays and other uncertainties, and shipping will need to compete with other industries for its share. However, the cost of reducing emissions varies significantly between fuel pathways, with abatement costs ranging from about 180 to 1,290 USD per tonne of CO₂ avoided, highlighting the importance of regulation and market incentives in enabling low-GHG fuel markets to develop.

Øyvind Sekkesæter, lead author of Maritime Forecast to 2050, said: “Scenarios explored in this year’s report show how different regulatory futures can lead to very different outcomes in energy efficiency uptake, fuel demand, and consequently, GHG emissions. By testing fuel and technology choices across multiple scenarios, shipowners can identify strategies that create value today while preserving flexibility as regulation, fuel availability, prices, and technologies evolve. Strategies that each owner chooses will also be dependent on their fleet type and operating context.”

Key findings from the report: 

  • Several regulatory futures remain possible as the IMO continues negotiations on the Net-Zero Framework, with these outcomes shaping investment decisions, low-GHG fuel uptake, and energy-efficiency deployment across the global fleet.
  • With global regulatory incentives in place, the world-fleet could consume 25% less energy by 2050 than under a scenario limited to regional regulations.
  • Energy efficiency can pay off regardless of regulatory outcome – 5,000 TEU container ship case study shows 16% annual fuel savings from hydrodynamic measures retrofit.
  • Shipping demand for low-GHG fuels could range from 4 to 22 Mtoe by 2030, and 33 to 185 Mtoe by 2050, depending on regulatory outcomes and the availability of these fuels in a competitive global market.
  • Current project pipelines indicate that a maximum of 270 Mtoe of supply could be available by 2030, though actual volumes are likely to be lower due to project delays and other uncertainties, and shipping will need to compete with other industries for its share.
  • Testing fuel and technology strategies across different scenarios can help shipowners identify robust choices for an uncertain transition. Testing, piloting, and verifying technologies can provide the trusted performance data needed to make investment decisions with greater confidence.

Note: DNV’s 10th Maritime Forecast to 2050 can be found here. 

 

Photo credit: DNV
Published: 28 August, 2026

Continue Reading

Nuclear

Core Power and Port of Corpus Christi to explore maritime nuclear readiness

Study at the port will examine opportunities for firm, reliable power from floating nuclear power plants and readiness for future calls by nuclear-powered commercial ships.

Admin

Published

on

By

Core Power and Port of Corpus Christi to explore maritime nuclear readiness

UK-based firm Core Power on Wednesday (19 August) said it has signed a Memorandum of Collaboration with the Port of Corpus Christi Authority (PCCA), establishing a framework for a site-specific maritime nuclear readiness study at the Port of Corpus Christi. 

The study will examine how a major US energy and trade gateway could prepare for two additional distinct future roles: as a potential location for a floating nuclear power plant (FNPP) supplying firm power for port and regional demand, and as a gateway for future calls by nuclear-powered commercial ships.

For the Port, the work is intended to provide a practical evidence base for considering how future ship-based power and shipping technologies could support regional growth, energy resilience and long-term competitiveness. 

For Core Power, the study will build out the practical requirements of its two product pathways in a real port operating environment. FNPPs require suitable sites, grid connections, customers, regulatory and environmental pathways, operating arrangements and long-term service support. Nuclear-powered commercial ships require safe and predictable pathways for transit, berthing and routine port operations. 

“The Port of Corpus Christi provides an opportunity to assess both pathways separately while understanding the shared infrastructure, safety, regulatory and commercial questions around them,” the company said. 

Separately, PCCA Commissioners have agreed to execute a Memorandum of Cooperation with the U.S. Department of Transportation’s Maritime Administration to examine the technical, regulatory and operational requirements for U.S. seaports to support the potential deployment of floating nuclear power plants and provide safe harbour for civil nuclear-powered vessels. 

The agreement recognises PCCA’s work with Core Power to assess the feasibility of both pathways. 

“Taken together, these separate but complementary agreements represent an important step toward translating maritime nuclear technology into practical readiness requirements for US ports,” Core Power said. 

Jeff Pollack, Chief Strategy and Innovation Officer of the Port of Corpus Christi Authority, said: “Port Corpus Christi, as the preeminent energy gateway in North America, is committed to remaining a leader in the global energy marketplace, even as that marketplace expands and evolves. 

“This collaboration will help us understand what would be required technically, environmentally, operationally and commercially for floating nuclear power plants and future calls by nuclear-powered commercial ships to be considered in the real-world context of the Port. It is about gathering evidence and keeping our region competitive for future investment, industry, and high-value jobs.”

Related: Port of Corpus Christi ink agreement to explore nuclear maritime technologies

 

Photo credit: Core Power
Published: 21 August, 2026

Continue Reading
Advertisement

OUR INDUSTRY PARTNERS



Trending