Peter Wallace
Principal Engineer, Risk and Regulatory Advisory, Lloyd's Register Advisory
Session
Synopsis: The U.S. Maritime Administration (MARAD) launched an initiative in May 2026, to develop Small Modular Nuclear Reactors (SMR) for commercial shipping. MARAD seeks to develop an SMR model to advance:
1) Efficiency: Deploying reliable, high-power energy to allow commercial ships to travel farther and faster;
2) Affordability: Small modular reactors that will largely eliminate fuel costs and reduce maintenance requirements;
3) Scalability: Identify streamlined deployment methods to integrate nuclear power across fleets and logistical networks;
4) Shipbuilding and Workforce: Integrate SMNR production into U.S. shipyards to build strong robust workforce pipelines and new credentialing standards; and
5) Regulatory Readiness: Establish liability, insurance, and inspection frameworks to ensure seamless port access before construction begins.