Bureau Veritas calls for greater regulatory alignment to unlock nuclear powered shipping by 2045

Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection, and certification, has published a summary report – titled Maritime Nuclear Development – which outlines how the technological viability, alongside significant safety improvements in modern nuclear propulsion systems, could lead to full operational deployment by 2045. However, the report stresses that while nuclear propulsion, and Floating Nuclear Power Plants (FNPPs), are technologically feasible, regulatory and liability frameworks must urgently evolve to enable safe and sustainable deployment.

The study highlights the need for a greater convergence between the International Maritime Organization (IMO) and the International Atomic Energy Agency (IAEA) to create a coherent global framework for nuclear-powered shipping. Existing conventions, including the 1981 Nuclear Ship Code, are ill-equipped to support the development and integration of modern nuclear systems and must be revised if the technology is to move beyond pilot projects.

BV’s report confirms that the first Small Modular Reactors (SMRs) could be deployed in maritime applications from as early as 2030, beginning with port-to-port operations and national-level projects, before wider international adoption. Furthermore, the report details the improved safety profile of Gen IV SMR technology (also known as advanced modular reactors or AMRs), which brings the promise of passive safety designs and provides “walk-away-safe” conditions for a shut down without external power of human action.

However, in order to facilitate the deployment of SMRs, new regulatory provisions and liabilities frameworks are needed to accommodate the unique aspects of civil maritime nuclear application.

Growing momentum is already visible, with initiatives such as the IAEA’s Atomic Technology License for Applications at Sea (ATLAS) expected project, combined with the IMO’s first steps to review the 1981 Nuclear Ship Code. However, if the industry is to realize the potential of nuclear propulsion technology, renewed cooperation from the insurance community through the reopening of the 1962 Brussels Convention is essential. As dedicated land infrastructure and a robust supply chain will be needed, this will call for greater support for nuclear power as a clean energy source from financial institutions.

Please follow this link to access the full report: Maritime Nuclear Development