Wiernicki: New nuclear a generational opportunity for U.S. shipbuilding

Christopher J. Wiernicki

New nuclear reactor technology represents a once in a generation opportunity for U.S. industrial policy, says ABS chairman and CEO. Christopher J. Wiericki Vessels propelled by advanced small modular reactors (SMR) could act as a catalyst for the revitalization of U.S. shipbuilding.

Wiernicki believes the next step is development of a marinized SMR demonstrator.

“It is a key transformational technology. It changes the commercial model, the economics of shipping, the operation of the vessels and their design,” he says. “So, while it is a global story, this is also a domestic U.S. story, bringing together national energy and economic security and acting as a catalyst for new industrial policy amid the reinvigoration of U.S. shipbuilding.

“New nuclear can be highly competitive. The economics are compelling over the life of a vessel when you account for fuel differentials, the cost of compliance and residual value, it costs roughly the same as fossil options.

He says that while SMR technology is a huge opportunity for U.S. shipbuilding but there remains much work to support its adoption.

“New nuclear could be U.S. shipbuilding’s secret weapon, but we need to invest in the technology, and we need a new nuclear playbook to make it happen. We have to separate the commercial approach from the military and land-based applications from marine and enhance public engagement and education.”

Regulation and licensing are going to be key to unlocking new nuclear’s potential.

“Current regulations are designed for large land-based reactors, specific technologies and domestic deployment,” says Wiernicki. “So, we need to look at the regulatory gaps and develop a dedicated framework to support SMRs and a global collaboration for international licensing standards.”

• ABS published the industry’s first comprehensive rules for floating nuclear power in October last year. The ABS Requirements for Nuclear Power Systems for Marine and Offshore Applications are available to download HERE