LR to lead cross-sector nuclear initiative

Lloyd’s Register (LR) has convened a high-powered group of experts from the nuclear, maritime, insurance and regulatory sectors to draw up standards for the safe, secure and commercially viable development and operation of nuclear-powered merchant vessels.

Core membership of the Maritime Nuclear Consortium, which will be led by LR, comprises Rolls-Royce (reactor design), Babcock International (ship design, construction and support), Global Nuclear Security Partners (security and safeguards), Stephenson Harwood (legal and regulatory), and NorthStandard (insurance).

Carbon-free nuclear reactors run for years, ships do not waste time taking on bunkers and can operate for years at significantly higher speeds. There is also more space for cargo, further increasing individual vessel productivity.

Meanwhile, London has world-class shipping services including classification, finance, legal, and both hull and machinery insurance, and mutual cover through the International Group of P&I Clubs.

The classification society’s CEO, Nick Brown, said: “Decarbonisation demands cleaner power, higher standards and a duty to the generations that follow. Nuclear is ready to meet that test. Used safely in naval fleets for decades, the next generation of advanced modular reactors brings tougher safeguards and the chance to bring nuclear power into everyday commercial shipping. 

“If the UK leads on global standards, nuclear will mean more than zero-carbon ships. It will mean work in British shipyards, new business in the City, and lasting jobs for those who build, insure and sail the world’s fleet,” he added.