The New Nuclear for Maritime Houston Summit has been making headlines this week for bullish comments on how atomic propulsion will have a place in the future merchant fleet.
HD Korea Shipbuilding & Offshore Engineering (HD KSOE), an intermediary holding company for HD Hyundai’s shipbuilding sector, unveiled a nuclear-powered 15,000 teu containership model (pictured) at the event utilising small modular reactor (SMR) technology.
Unlike conventional ships, nuclear-powered vessels do not require engine exhaust systems or fuel tanks. HD KSOE has optimised the space previously occupied by large engine room equipment to accommodate additional containers. The company has also applied a marine radiation shielding system using a double-tank method with stainless steel and light water to ensure safety.
Furthermore, HD KSOE, in collaboration with global energy technology company Baker Hughes, has applied a supercritical carbon dioxide-based propulsion system, improving thermal efficiency by approximately 5% compared to existing steam-based propulsion systems.
HD KSOE plans to establish a marine nuclear demonstration facility at its Future Technology Test Center.
“Nuclear-powered vessels can be a game-changer in the current shipbuilding market, where carbon neutrality is emerging,” said Patrick Ryan, chief technology officer of class society ABS, which gave the Korean builder an approval in principle for the new design.
Since February last year, HD KSOE has been accelerating related technology development through joint research on next-generation SMRs with TerraPower. In December last year, the company secured an order to manufacture the main equipment for TerraPower’s Natrium reactor, which is being constructed in Wyoming.
Also speaking at the summit, Christopher Wiernicki, ABS’s chairman and CEO, who told delegates: “New nuclear technology is a global decarbonisation solution and a commercial shipping disruptor. There is no net zero by 2050 without nuclear.”
ABS published the industry’s first comprehensive rules for floating nuclear power in October last year.
“New nuclear is a transformational technology. It disrupts the commercial model, the economics of shipping, as well as the operation of vessels and of course their design,” said Wiernicki. “Not only does it offer zero carbon operations but higher power with faster transit speeds, increased cargo storage due to the elimination of fuel storage and it unlocks the potential for reverse cold ironing where the vessel powers the port. Finally, critically, it eliminates the need to bunker fuel potentially over the entire lifespan of the asset.”
Contrary to conventional wisdom about the high cost of nuclear technology, Wiernicki said he believes new nuclear can be highly competitive.
“The economics are compelling over the life of a vessel,” he said. “When you account for fuel differentials, the cost of compliance and residual value, it costs roughly the same as fossil options, only with zero carbon operations. And it gets much more attractive when compared to the high cost of green fuels.”
