At a pivotal upcoming IMO meeting in June, the need to update the IMO’s Nuclear Code will be reviewed. A number of Member States and non-governmental organisations have now called for the work to begin on revising the 1981 Code of Safety for Nuclear Merchant Ships (resolution A.491(XII)) (the “Nuclear Code”).
This development runs alongside the results of the work of the Correspondence Group on Development of a Safety Regulatory Framework to Support the Reduction of GHG Emissions from Ships Using New Technologies and Alternative Fuels (CG on GHG Safety) which will be discussed at the 110th session of the IMO’s Maritime Safety Committee (MSC 110) from 18-27 June.
Nuclear will therefore be on the agenda at MSC 110 alongside consideration of a range of fuels and technologies that can help ships reduce GHG emissions, but several Member States and NGOs have proposed that MSC 110 should give the formal go-ahead for relevant sub-committees to start work on revision of the Nuclear Code without delay, which, if the proposals are supported, could see work on an updated Code starting in the early part of 2026.
Read more about this significant regulatory development here.
EUROPEAN SUMMIT: Panel Announced
At CORE POWER, we’re rethinking how to deploy nuclear at scale — through full-plant serialisation, not just reactor modules.
This stellar panel will cover “Delivering floating nuclear power and nuclear-powered ships” and will feature experts on Ship Design, Program Management, Shipbuilding, Classification, Reactor Technology and Finance.
Join the conversation at the New Nuclear for Maritime European Summit in London.
The summit will take place on on Thursday 10 July at IET London, Savoy Place, WC2R 0BL from 8am until 5.30pm.
Tickets are already going fast – secure your place here!
New whitepaper highlights key steps for nuclear to decarbonise shipping
According to a new report released by organisations representing maritime, logistics, ports, and nuclear engineering, nuclear energy has the potential to usher in “a new era in sustainable maritime transportation” by drastically lowering the carbon footprint of shipping and port operations, but it will necessitate coordinated efforts from all stakeholders.
With assistance from CMA CGM, PSA International, ONET, and one of the leading international consultancies, Bureau Veritas spearheaded the comprehensive study conducted by the New Energies Coalition.
New in CONVOY: The 2025 Convoy Program series of events kicked off this week with an in-depth look at Insurance for Maritime Nuclear.
This is a key topic because the link between the concept of “insurability criteria” and the opening up of new market opportunities for floating nuclear is inextricably linked.
Insurance is not merely a financial afterthought in this emerging industry however; it is a critical enabler. Without it, shipbuilders and operators cannot secure financing, regulators cannot ensure compliance, and stakeholders cannot effectively manage liability.
Convoy members were given a closer look at the background, risk landscape, regulatory environment, technology-led developments to meet insurance criteria and a deep dive into EPZ calculations. They also heard from two expert speakers from the marine mutual and the nuclear insurance pool sectors about the indispensable role that insurance plays and how these sectors might collaborate in the future.
To get access to the presentations and a recording of the event, as well as invites to all the remaining 2025 events, enrol into the program below.
The heads of the World Bank and the IAEA have both called for the UN agency to lift a decades-old ban on funding nuclear energy, and Charles Oppenheimer says it would help create a more level playing field for companies that cannot compete with the “full package” deals, including finance, offered by Russian or Chinese State-backed firms.
Many developing countries that are eager to develop nuclear power cannot secure financing, and their only option, without World Bank support, “is to negotiate deals with Russia, which dominates the global nuclear export market,” Oppenheimer observed. CORE POWER has previously reported on Rosatom’s plans to export “plug and play” floating nuclear power plants.
Bill aimed at securing US leadership in commercializing SMRs
Congressman Jim Baird has introduced a bill to secure the United States’ preeminent position in commercializing and industrializing grid-scale small modular reactor (SMR) technology. Introducing the Small Modular Reactor Commercialization Act of 2025 (SMRCA) on April 11, Baird said: “We want the United States to be the nuclear energy manufacturing powerhouse of the world. To get there, we must ensure the U.S. is uniquely poised to attract top SMR companies and get them to build their factories here. Last year, Congress passed the ADVANCE Act to support the initial deployment of advanced nuclear reactors. This legislation builds on the ADVANCE Act to tackle the next question of how our nation can compete on truly commercializing and manufacturing this technology at-scale.”
