The first time nuclear powered tankers were proposed was back in 1961, when the Atomic Energy Commission and The Maritime Administration awarded a contract to General Electric. The plan was to install boiling water reactors in conventional T-5 tankers.

The plan was eventually shelved because they were considered uncompetitive against conventional ships running on oil, which back then was just $15.30 a barrel adjusted for inflation.

Times have certainly changed, and with oil prices currently on the wrong side of $100 a barrel, and the world’s tanker fleet consuming more fuel (and expelling more CO2) than the global aviation industry put together, plans are underway to seek out ways to reduce rising costs and environmental concerns.

Shipping is highly sensitive to even modest rises in oil prices, and recent increases have had a significant impact on inflation as the cost of imports has increased sharply throughout America.

Recent developments to cut costs have included tankers powered by a computer-guided kite. The technology steals the principal from the popular water sport ‘kite surfing’. The 132 meter long kite could cut daily fuel costs by up to 20% or $1,600 a day, assuming there’s no head wind of course.

The cost advantage of a nuclear powered fleet is receiving growing attention, forwarded by proponents such as Adams Atomic Energies and the BNFL group.

They advocate several reasons why future merchant ships should consider going nuclear.

• Lower cost fuel. At current prices, reactor fuel costs 85 percent less than bunker fuel.
• Zero emissions. In crowded port cities, air pollution laws are becoming more stringent and costly.
• Concentrated fuel. Nuclear reactors can be built with fuel supplies lasting for many years.
• High power to weight ratio. Merchant ship owners are increasingly interested in rapid transits over long distances.
• The US Navy’s nuclear powered fleet of aircraft carriers are testament to their superior power and capabilities.

Nuclear Tankers aren’t something environmental pressure groups would relish, but with the cost of imports only set to increase further, and presidential candidates notably keeping an open mind on nuclear (Exelon, a leading nuclear-plant operator is a big donor of Obama), atomic tankers on the horizon can only be a matter of time.