Washington has signed an agreement with ABS to accelerate nuclear transportation. This agreement, in collaboration with the Office of Nuclear Energy of the U.S. Department of Energy (DOE), focuses on feasibility studies for floating reactors, dedicated nuclear transportation corridors, and the port and industrial infrastructure needed to build and support nuclear-powered vessels.
Joint Management of Marine Nuclear Programs Group
ABS will take on the joint management of the Marine Nuclear Programs Group, providing technical, legal, and economic expertise. Additionally, the company will coordinate necessary activities through the U.S. Maritime Administration's Marine Innovation Center.
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John McDonald, President and CEO of ABS, stated: "Advanced nuclear technology is moving from the idea stage to implementation, and the maritime industry must be prepared for it."
Background Research in Nuclear Field
This agreement is based on several years of research in the nuclear field. In 2022, the U.S. Department of Energy signed a collaboration contract with ABS to examine the barriers facing commercial nuclear propulsion, and subsequently, the company published the first comprehensive regulations for floating nuclear power plants.
Last month, ABS supported a study that examined the economics of a nuclear-powered LNG carrier with a capacity of 174,000 cubic meters. The construction cost of this vessel is estimated to be approximately 2.5 times more than a conventional LNG ship, although researchers predicted lower lifetime costs under specific carbon pricing conditions.
However, significant barriers remain, including regulatory acceptance, insurance, nuclear fuel arrangements, and access to ports. The recent agreement creates a framework to address these challenges and does not commit to the construction of a vessel.
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