Page 110 - ΝΑΥΤΙΚΑ ΧΡΟΝΙΚΑ - ΜΑΙΟΣ 2023

GREEN SHIPPING

itime works.
The $100m has been invested by maritime industry stakeholders, such as ship-
owners, charterers, shipyards, trading houses, banks and insurance companies,
rather than venture capital or financiers.
Japanese companies account for around 25% of the investment.
Investors see a potential for a good financial return and the opportunity for
owners to be the first customers.
The development programme envisages the first deployment of the technology
around 2030 – 2035. Core Power’s aim is for shipyard manufactured floating
nuclear power plants that would produce zero emission power to produce
green hydrogen and synthetic marine fuels from seawater and nitrogen and
carbon feedstocks. These plants could be anchored offshore at key bunker-
ing ports meaning that fuels are produced locally rather than having to be
imported.
For green fuels, nuclear energy could take production costs down from a pro-
hibitive $7,000 per tonne marine equivalent to a level on a par with fossil fuels
plus a carbon tax of around $1,000 - $1,200 per tonne and produce those fuels
where they are needed, rather than in a central location.
Challenges and opportunities
In 2023, there is strong momentum building among leaders in chartering,
cargo owners, shippers, receivers, ship owners and operators who are going
to transition to a form of nuclear. There's a realisation that new nuclear is the
end game of the energy transition providing it's, done right.
Public Opinion Shifting
Most of the opposition to nuclear energy comes from a lack of knowledge.
We're starting to see a very strong shift in opinion amongst young people who
are now favouring nuclear energy. Politicians are also starting to see this, in
the United States and United Kingdom as well as Japan, Korea and countries
in the Middle East. Developing new nuclear technologies that are fit for pur-
pose in maritime is the most viable way to achieve zero emissions from ocean
transportation whilst maintaining the competitive advantages our industry so
badly needs.

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