Seaspan Corp, operator of the world’s largest chartered container ship fleet, has taken a closer look at small modular reactors (SMRs) as a potential power source for major oceangoing vessels. The company recently commissioned a detailed economic and technical review from LucidCatalyst and Lloyd’s Register, focusing on how nuclear propulsion could reshape operations for a 15,000-TEU ship.
The study argues that shifting to nuclear-based propulsion could reduce annual operating costs by roughly $68M through the removal of fuel purchases and related carbon obligations. Under the model presented, the vessel would sustain about 25 knots, a speed roughly 40% higher than conventional container tonnage. At this pace, the ship is projected to complete a little over six round-trip voyages each year, exceeding the five journeys achieved by the reference fuel-based design.
Because of the increased operating tempo, the report calculates an additional 1.3 voyages annually. It also notes that eliminating fuel tanks and associated systems would release around 5% more deck and internal volume for containers. When combined, the greater speed and added stowage could translate into a 38% rise in yearly cargo throughput.
The analysis outlines a path in which factory-built propulsion units could reach market availability in approximately four years if supported by an intensive development programme. Target metrics include total system costs under $4,000/kW and fuel expenditure below $50/MWh. To accomplish this, the study recommends a requirements-driven supply chain coordinated by a broad industry consortium.
Further sections highlight procurement practices, cost-management tools, and financing structures such as reactor and fuel leasing, intended to moderate upfront investment while meeting regulatory and safety standards. If the maritime sector were to order more than 1,000 units across a 10–15-year window, the report predicts that manufacturing scale could move unit pricing toward $750–1,000/kW, well under the $3,000–4,000/kW range associated with traditional nuclear systems.
The preferred reactor configuration is designed for operation spans of about five years before refuelling, allowing servicing to align with standard drydock intervals and reducing reliance on global bunkering networks. With the proposed framework in place, modelling suggests total market adoption of 40–90 GW by 2050, subject to regulatory progress and industry commitment.
