A New Era for Maritime Innovation
The US shipbuilding industry, once a titan of global commerce, now languishes at 19th place worldwide. But what if the key to its revival lies in a technology that’s both futuristic and familiar? Enter advanced small modular reactors (SMRs)—compact, efficient nuclear reactors that could propel the next generation of ships. Christopher J. Wiernicki, Chairman and CEO of class society ABS, believes this isn’t just a pipe dream. “It’s a once-in-a-generation opportunity,” he says.
SMR-powered vessels could revolutionize the economics of shipping, offering a cleaner, more cost-effective alternative to fossil fuels. Wiernicki envisions a future where these reactors not only power ships but also act as a catalyst for a broader industrial renaissance. “This is a domestic U.S. story,” he emphasizes, “tying together national energy security, economic growth, and the reinvigoration of American shipbuilding.”
The Economics of Nuclear Power at Sea
Why nuclear? The numbers speak for themselves. Over the lifespan of a vessel, nuclear power could be just as cost-effective as traditional fossil fuels—if not more so. “When you factor in fuel savings, compliance costs, and residual value, the economics are compelling,” Wiernicki explains.
But the real game-changer lies in the technology’s scalability. SMRs are smaller, safer, and easier to deploy than traditional nuclear reactors, making them ideal for maritime applications. However, Wiernicki cautions that significant investment and regulatory innovation are needed to bring this vision to life. “We need a new nuclear playbook,” he says, “one that separates commercial applications from military ones and fosters global collaboration on licensing standards.”
A Global Race for Maritime Dominance
The stakes couldn’t be higher. China currently dominates the global shipbuilding industry, producing over 1,700 vessels annually compared to the US’s paltry five. This imbalance has raised alarms in Washington, with the US Trade Representative recently calling China’s maritime dominance “unreasonable” and a threat to US commerce.
In response, US lawmakers have introduced the SHIPS for America Act, aiming to bolster the nation’s commercial maritime industry. Meanwhile, UK-based CORE POWER has launched the Liberty program, a US-anchored initiative to bring floating nuclear power to market by the mid-2030s. These efforts signal a growing recognition of nuclear power’s potential to transform the maritime industry—and perhaps restore the US to its former glory as a maritime superpower.
Sailing Toward a Sustainable Future
Nuclear power isn’t just about economics or geopolitics; it’s also a sustainability play. As the maritime industry grapples with the urgent need to reduce emissions, SMRs offer a clean, reliable energy source that could help ships sail into a greener future.
For the US, the opportunity is clear: invest in nuclear-powered ships, and you invest in a cleaner, more competitive maritime industry. The question is, will the nation seize this moment—or let it slip away?
