UCL study: Nuclear ships only pay off under the IMO’s net-zero rules

Nuclear propulsion can compete in container shipping only if an effective global emissions policy is in place and reactor costs fall sharply, according to new research from the UCL Energy Institute’s Shipping and Oceans Research Group, released on Wednesday (27 October).

It is one of the most detailed total cost-of-ownership assessments of nuclear merchant shipping to date.

The report, “Nuclear Reactors for Merchant Shipping: A Total Cost of Ownership Assessment of a Low-Carbon Pathway”, compares a large container ship (14,500 to 19,999 TEU) with nuclear propulsion against conventional fuel oil and dual-fuel ammonia vessels.

It uses a literature review, interviews with five UK-based experts in law, insurance, classification, technology development and industry representation, and a cost model run with and without the IMO Net-Zero Framework (NZF).

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