Consortium plots course for nuclear shipping

A marine insurer is playing a role in efforts to decarbonise global shipping as plans gather pace for a new generation of low-carbon vessels.

Newcastle-headquartered NorthStandard has joined the UK-led Maritime Nuclear Consortium, convened by Lloyd’s Register, which aims to set international standards for the safe, secure and commercially viable use of nuclear power at sea.

The consortium brings together expertise from across the nuclear, maritime, insurance and regulatory sectors to develop frameworks for nuclear-powered shipping as part of the transition to a net-zero ocean economy. 

Alongside NorthStandard and Lloyd’s Register, core members include Rolls-Royce, Babcock International Group, Global Nuclear Security Partners and law firm Stephenson Harwood.

The initiative centres on the potential of advanced modular reactors, which could allow ships to operate for years without refuelling, producing zero carbon emissions while maintaining full operating speeds. 

Proponents argue this offers a solution to one of shipping’s most difficult decarbonisation challenges without compromising efficiency or safety.

Mike Salthouse, head of external affairs at NorthStandard, said: "Insurance plays a critical role managing the risks associated with, and fostering confidence in, new technologies. 

“At the heart of that confidence are people. 

“By bringing deep expertise in risk assessment, safety, and regulatory compliance, NorthStandard can provide industry with the assurance it needs to explore the potential of innovative new applications for technologies such as civil nuclear marine.

“Through our participation in the Maritime Nuclear Consortium, we will contribute not only technical knowledge but also human insight.

“We are helping shape the future of nuclear-powered shipping with a focus on safety, security, and accountability.  

“With the right people applying the right standards and joined up regulation, maritime nuclear power can become a transformative force – advancing decarbonisation, supporting commercial viability, and guiding the shipping industry towards net-zero emissions.”

The UK is positioning itself to lead the development of maritime nuclear standards, drawing on its long-standing experience in naval nuclear technology, world-class engineering and established regulatory systems.

As part of this effort, the consortium’s first programme will focus on demonstrating design acceptability for modular reactors, developing class certification frameworks, defining security and safeguards, establishing insurance pathways and publishing guidance to support adoption.

With other nations moving quickly in this space, the group aims to secure a first-mover advantage for the UK, supporting high-skilled jobs, innovation and the creation of a global supply chain anchored around British expertise in maritime, nuclear, finance and insurance.

Nick Brown, chief executive of Lloyd’s Register, added: “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.”

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