OVER DEZE AFLEVERING
“These will be the safest ships ever built,” suggests Jan Emblemsvåg, on nuclear energy-propelled cargo vessels: a potential to decarbonize and eliminate toxic spills in the maritime industry.
As nuclear energy broke the maritime media waves with the meeting of 30 nations, assembled by the International Atomic Energy Agency (IAEA) for its inaugural Atomic Technologies Licensed for Applications at Sea (ATLAS) meeting, a knowledge-gaining chat with a professor with extensive commercial experience seems timely.
Not only do we get a glimpse into the room at that D.C.-based meeting, but insight into the two demonstration vessels expected to demonstrate critical operations with Gen VI reactors by the early 2030s and why nuclear is a bankable energy source!
What’s the problem? The International Maritime Organization (IMO) forecasts, “Without aggressive mitigation, emissions from the sector could surge by up to 50% to 130% of 2008 levels by 2050 as global trade expands, with maritime industry currently responsible for 3% of global emissions.” https://www.imo.org/en/ourwork/environment/pages/decarbonization%20of%20shipping.aspx
Why nuclear instead of, say, green ammonia? This Norwegian University of Science and Technology professor — amongst his other roles — purports that decarbonizing commercial shipping with NH3 needs all energy sources currently fueling all OECD nations to generate the 10,000 Terrawatts of electricity. Or, OECD+China if the aim is to additionally decarbonize aircraft fuel!
Alongside a center for research-based Innovation, SAINT (Sustainable Applied and Industrialized Nuclear Technology https://www.ntnu.edu/saint), a multi disciplinary member consortium, the ambition is to harness TRISO fuel in a way which is economically viable.
How and When? No fewer than two demonstration vessels powered by Gen IV reactors, expected to reach critical operations by the early 2030s: new technology, far different from the pilot vessels designed in the 1960s!
Why is nuclear fuel a plausible alternative energy source? It’s incredibly energy dense. 1kg of uranium offers 3.5 million — yes, three-and-a-half million — million times more energy than the weight-equivalent in coal! We learn that “a couple of thousand tons of nuclear fuel can power the ENTIRE maritime industry v. 400 million tons of coal.
And what do you do with the nuclear waste? Reuse it, we learn!
What’s the difference between Uranium 235 v. U-238 v. HALEU v. TRISO pebbles? Listen to learn.
Safety & Safeguards? TRISO fuel’s properties; Owners clearly identified and responsible.
Vessel crashed against the rocks? Minimal environment risks: TRISO reportedly withstands 10,000 years’ exposure to seawater or survives up to 1 million year in 4,000 meters sea depth. So we hear.
Insurable? Yes, with higher payouts than nuclear incidents on land.
Reasonable CAPM? Yes!
Bankable? Well, if fuel is safe, vessels are insurable and it make financial sense. “Yes to all,” is the suggestion.
So, financiers: here’s an opportunity for investment return: from providing leases to investing in the ships and reactors.
Where can the ships sail if there isn’t global agreement? Corridors between nations. After all, we have bespoke air traffic flight paths.
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