Vard is looking for solutions to build commercial and construction vessels – including offshore wind turbines – powered by nuclear-powered engines, said Amrit Bhullar, SVP Business Development and Group Innovation at the company.
“We at Vard are looking for solutions to use nuclear energy for the propulsion of ships because it is a safe, clean and affordable source. We expect nuclear power to be used on merchant vessels, but also on construction vessels, as well as for submarine cable laying and offshore wind turbines,” said Bhullar, speaking, at the conference “Digitalization and Energy Efficiency – Bucharest” organised by Energynomics together with the Italian Chamber of Commerce for Romania – CCIpR.
“We have a long-term investment outlook to remain competitive and keep our competences close to where we build our ships. Vessel building is one of the few remaining heavy industries in Europe, so as we deliver high-tech solutions, it becomes increasingly important to retain the teams working on them. That’s why we are determined to invest in new technologies that support the shipbuilding industry,” she added.
She added that Vard is keen to use the most environmentally friendly fuels for its ships and has several vessels under construction that will be able to run on methanol and ammonia once these technologies become available. At the moment, however, the biggest obstacle to investment in the development of new clean technologies is the high cost and high price of fuels and the uncertainty of fuel developments.
“Our clients’ boards are dominated by people from investment funds – that’s the way it works today – who are opposed to such investments unless they realise a significant financial return. On the other hand, some fuels, such as methanol, are difficult or not accessible at all, and the harbour infrastructure to deliver them is limited. Production of alternative fuels such as hydrogen, methanol or ammonia is very energy-intensive, so nuclear power can become a crucial source of these fuels in addition to wind,” Bhullar explained.
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However, “nobody will integrate a technology into a ship if it does not bring financial returns”. The shipbuilding industry has never before had to deal with the implementation of new technologies on such a scale that do not bring direct benefits in terms of cost, speed, efficiency, safety of navigation or operation of the vessels. For this reason, it is hard to believe that the market alone will be able to sustain the green transition in the maritime sector, but the gradual introduction of laws and taxes will help accelerate this process, which is currently too slow.
“The national authorities are not strong and independent enough to take such decisions on their own, so we are relying on the EU to take this step,” Bhullar concluded.
The conference “Digitalization and Energy Efficiency – Bucharest” was organised by Energynomics together with the Italian Chamber of Commerce for Romania – CCIpR, with the support of our partners: Bonatti, Datacor, Elektra Renewable Support, Elvo, Enexus Renewable Energy, Generali, HBI Real Estate, Intesa Sanpaolo Bank, Keno Energy, Personnel Select, Polytrade Global, Prime Batteries Technology, Prysmian, Schneider Electric, SolarX Power, UniCredit Bank, VARD, WALDEVAR Energy, WEBUS 4 Energy.