Nuclear propulsion under three conditions

A new debate on the use of nuclear energy—including in shipping—is opening up, under certain conditions, according to a study by the Deon Policy Institute.

The study recommends incorporating nuclear options into Greece’s long-term energy planning and establishing a comprehensive regulatory framework covering licensing, safety, and environmental oversight of related facilities.

At the same time, it emphasized that this prospect is not an “automatic” solution, as it requires institutional readiness, investment viability, and social acceptance, while also identifying the significant challenges and risks accompanying such a transition.

Safety

According to the study, the global resurgence of nuclear energy is driven by the need for clean, reliable, and scalable power, as well as by concerns about energy security and economic resilience.

Shipping is also affected as it is a sector under pressure to decarbonize, while simultaneously relying on fuels with high price volatility and exposure to geopolitical risks.

The study places particular emphasis on Small Modular Reactors (SMRs), considered a pivotal technological advancement.

It documents dozens of projects worldwide and highlights the existence of maritime, water-cooled reactors functioning as “floating power plants,” with a notable example being a Russian floating unit that has been in commercial operation since 2020.

This category directly intersects with discussions on maritime applications, either as port power supply or, in the long term, as a foundation for nuclear-powered solutions in shipping.

As the study noted, Greece plays a leading role in the shipping sector, creating a potential comparative advantage. The country could participate in shaping the rules, practices, and technical standards that will be required if nuclear technology becomes more systematically integrated into maritime transport.

At the same time, the domestic shipbuilding base could benefit from projects related to floating nuclear platforms or other specialized constructions, provided there is strategic targeting.

A practical area highlighted in the study is floating nuclear power plants (FNPPs) as a solution for energy sufficiency and resilience in isolated or “challenging” regions. For a maritime nation with numerous ports, this scenario is linked to how critical infrastructure—ports, industrial zones, and logistics hubs—can be powered, especially under increasing decarbonization demands.

Obstacles and Risks

However, the study pointed out that the endeavor faces structural obstacles in Greece: the absence of a comprehensive national plan, the need for a regulatory and institutional framework, requirements for skilled personnel and capabilities, and factors such as seismic activity and resource availability.

From a risk perspective, the study highlighted issues that are even more critical for shipping. Specifically, safety and security are considered paramount, since in a maritime environment the protection of critical systems and the prevention of sabotage or attacks is of crucial importance.

The management of fuel and waste is also a key concern, with the report’s authors emphasizing that even if SMRs produce less waste per unit of energy, the issue remains politically and operationally critical.

The financial side of the project

A critical issue remains financing. The study underlined that success depends on long-term risk mitigation strategies and the ability to utilize/remove restrictions on European financing instruments.

The financial viability of this project is often as important as its technical excellence.
Regarding costs, the overall picture has a double reading for shipping. On the one hand, SMR reactors are not a “cheap” solution compared to the ideal scenario of cheap RES.

However, as noted, they offer stable, low-emission power that can support critical infrastructure, but also act as an energy foundation for future marine fuels and services.

The technology may be maturing, but application in a marine environment requires a very strict framework.

If Greece wants to seriously enter the nuclear debate – and especially its maritime dimension – it needs a coherent strategy: national plan, institutional architecture, skills development, international collaborations and careful selection of applications (e.g. first in infrastructure/ports and not directly in nuclear propulsion).