In this episode, Richard Meade, editor-in-chief of Lloyd’s List, delves into the resurgence of nuclear power as a viable solution for decarbonizing the shipping industry. He is joined by Myrto Tripathi, CEO of Voices of Nuclear, Mikal Bøe, Chairman and CEO of CORE POWER, and Matthieu de Tugny, President of Marine & Offshore at Bureau Veritas.

The discussion highlights the increasing recognition of nuclear power alongside carbon capture technology as essential for achieving the industry's 2050 net-zero targets. Richard Meade notes, "Nuclear power and shipping used to be a fringe discussion. Not any more." The conversation touches on the historical setbacks due to the Fukushima disaster and the renewed momentum driven by technological advancements and regulatory developments.

Mikal Bøe emphasizes the industry's need for significant investment in nuclear technology, likening its potential disruption to the historical shift from sail to steam. "It's going to be disruptive. It's going to change [the industry], a bit like steam disrupted sail," he states. Bøe highlights the importance of the industry's proactive investment, saying, "The industry needs to step up and use some of that money that it's made over these last 10 years and say, 'right, how are we going to invest in the future?'"

Bøe also addresses the misconceptions about nuclear power's safety and viability. He explains, "The destruction of a nuclear power plant on board a ship is something that is almost impossible. The entire vessel could disintegrate around it without the destruction of that power plant." He reassures that nuclear ships are not more dangerous than conventional ones, adding, "It's not more dangerous for a nuclear ship to sink than for any other ship. I mean, there's no pollution from it."

Matthieu de Tugny discusses the logistical and public perception challenges, noting that while nuclear technology is technically feasible, widespread acceptance remains a hurdle. "The main important difficulty here will be the public opinion," he points out.

Myrto Tripathi underscores the inevitability of nuclear integration within maritime decarbonization efforts, given the limited alternatives. "There's not many other choices... at any rate somewhere along the process line you will have some share of nuclear power being involved," she stresses. Tripathi also highlights the competition from other industries for nuclear resources, stating, "The maritime industry certainly has to take nuclear seriously for the simple physics of it."

Overall, the episode positions nuclear power as a critical and increasingly mainstream component of the shipping industry's strategy to meet its decarbonization goals by 2050. Richard Meade concludes, "Nuclear is now shaping up to be a mainstream part of the debate on how we get to 2050."

Listen to the full episode.