Advanced small modular reactors (SMRs) could serve as a catalyst for U.S. shipbuilding, according to American Bureau of Shipping (ABS) Chairman and CEO Christopher J. Wiernicki.
Wiernicki emphasized the need for a marinized SMR demonstrator as the next step in developing the technology for commercial use. An statement recently released by ABS deemed the new nuclear reactor technology "a once in a generation opportunity for U.S. industrial policy."
In the statement, Wiernicki noted SMR technology could change vessel economics, operations, and design while also contributing to national energy and economic security.
“New nuclear can be highly competitive," Wiernicki said. "The economics are compelling over the life of a vessel when you account for fuel differentials, the cost of compliance and residual value, it costs roughly the same as fossil options."
However, Wiernicki stated significant work remains to support SMR adoption. He called for investment in the technology and the development of a regulatory framework tailored to marine applications. Current regulations are designed for large land-based reactors, requiring modifications to address maritime use.
The push for SMR technology has gained momentum internationally. Earlier this month, South Korea's HD Korea Shipbuilding & Offshore Engineering announced a partnership with the UK's Core Power and the USA's Southern Company and TerraPower to develop an SMR for maritime applications. The initiative aligns with broader global efforts to explore nuclear-powered commercial vessels.
In October 2023, ABS published the industry’s first comprehensive rules for floating nuclear power, titled "ABS Requirements for Nuclear Power Systems for Marine and Offshore Applications."
