Page 25: of Marine News Magazine (November 2023)

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Nuclear lion by 2026. There are over 19 companies developing hydrogen or the proposed list of alternative fuels offered to designs worldwide, and Russia & China report SMR sys- meet IMO emission goals. tems in operation. The technology, no different than the Building a ? nancial model to address not only the capi-

Savannah, can be a technical success. The energy invest- tal costs required for new ship design, the SMR modular ment can lead to reduced costs for maritime applications. application, insurance, crew training and welfare, and the

The issue moving forward will be de? ning the economics ability for the market and vessel type to save lost time for and moving past the perception of risk with regard to his- bunkering and repairs is, in our opinion, the next step to torical nuclear power: security, uranium fuel development, determine if the concept is viable. The propulsion appli- transportation and ? nal storage of spent fuel material be- cation can actually allow us to reach zero emissions and ing paramount. successful sustainability within the IMO 2050 goal, while

The economics goes beyond ship construction and pro- most of the current alternatives are merely temporary solu- pulsion costs. Imagine an industry that employs a fuel tions. And with that, our ? nancial and technical network source that is good for 15 to 25 years. No need for the intends to work closely with industry sources to analyze costs of developing the infrastructure to bunker ammonia, the economics and move this concept forward.

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