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SMALL MODULAR REACTORS

ECONOMICS: operational emissions largely disap- References 1. International Maritime Organization (IMO),

UTILIZATION DECIDES pear, but fuel-cycle emissions, radio- 2023 Strategy on Reduction of GHG Emissions from

High energy density does not make active waste and decommissioning

Ships, Res. MEPC.377(80), 2023.

2. IMO, SOLAS 1974 as amended, Chapter VIII; nuclear automatically cheaper. Own- remain. SMR propulsion is therefore

Code of Safety for Nuclear Merchant Ships, Res. ers must add the reactor, shielding, best treated as a targeted option for

A.491(XII), 1981.

3. IMO, SDC 12 meeting summary, Jan. 19-23, ship integration, licensing, training future ? eets, not an immediate re- 2026 (work plan for revising the Nuclear Code and SO- and maintenance. The test is wheth- placement for conventional fuels.

LAS Chapter VIII).

4. International Atomic Energy Agency (IAEA), Ad- er extra capital cost is repaid by dis- The sensible path is phased: demon- vances in SMR Developments 2024; Technical Reports counted fuel savings, avoided carbon stration projects, incremental licens-

Series No. 410 (2002), civil nuclear ship data.

5. IAEA, ATLAS launch forum, Washington, Aug. costs and operating advantages, af- ing, gradual port acceptance, and re- 26-27, 2026; IMO statement on its participation.

ter nuclear operating expenses and actor quali? cation that goes beyond 6. DNV, "HD KSOE awarded DNV AiP for SMR- powered container vessel design," Oct. 23, 2025; DNV, ? nancing risk premiums. The best land-based testing to cover vibration,

Maritime Nuclear Propulsion, 2025.

cases combine long annual operating shock, collision, grounding, ? re and 7. ABS and HD Hyundai agreement on a 16,000

TEU nuclear-linked electric propulsion ship, March hours, long service lives, steady pro- ? ooding.

2026 (World Nuclear News).

pulsion demand and stable routes. Commercialization is a system-of- 8. Lloyd's Register, "LR backs nuclear car carrier con- cept at Posidonia," June 2, 2026.

A Reactor-as-a-Service (RaaS) systems problem. Reactors, ship in- 9. ABS, KAERI, KRISO and Samsung Heavy In- model could ease the burden. A spe- tegration, safety, regulation, ports, dustries, 15,000 TEU dual molten salt reactor AiP, July cialist provider would own the reac- people, liability and ? nance must 2026 (World Nuclear News).

10. U.S. Maritime Administration, Nuclear Ship Sa- tor and fuel and handle refueling, advance together. If they do, SMRs vannah; MARAD-CORE POWER cooperation agree- servicing and spent fuel, while the could power a safe, reliable and eco- ment, Aug. 24, 2026 (MarineLink).

11. World Nuclear Association, Nuclear-Powered shipowner keeps the hull and con- nomically viable part of the future

Ships, 2026; U.S. Department of Energy, What is ventional systems, paying a ? xed blue economy.

HALEU?, 2024.

availability fee plus a per-MWh tar- iff. Nuclear liability, however, is set by statute and cannot be transferred by contract alone. Fuel supply mat- ters too: low-enriched and high-assay low-enriched uranium need depend- able, regulated supply chains.

WHERE NUCLEAR FITS FIRST

Large container ships, tankers, ice- class cargo ships and offshore sup- port vessels with continuous power demand show the strongest cases.

Low-utilization bulk carriers and small coastal vessels are weaker, and passenger ships raise public-accep- tance questions. For India, with its nuclear infrastructure and large ship- ping sector, the opportunity is stra- tegic, but nuclear-grade manufactur- ing and quality assurance would take sustained effort.

OUTLOOK

Nuclear propulsion shifts environ- mental risk rather than removing it: www.marinelink.com 37

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