Christopher J. Wiernicki, Chairman and CEO of ABS, has stated that new nuclear reactor technology, particularly small modular reactors (SMRs), represents a "once in a generation opportunity" for U.S. industrial policy and shipbuilding, according to ABS's release.
Wiernicki believes that vessels powered by advanced SMRs could revitalize the U.S. shipbuilding industry. He emphasized the need for developing a marinized SMR demonstrator as a crucial next step.
"It is a key transformational technology. It changes the commercial model, the economics of shipping, the operation of the vessels and their design. 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," said Wiernicki.
He added, "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."
ABS (American Bureau of Shipping is a global provider of classification and technical advisory services to the marine and offshore industries.