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Singapore-based tanker owner, vessel management director discusses decarbonisation
Capt Madhu Vadakkepat of N2 Tankers and N1 Commercial Management discusses decarbonisation strategies and operational future-proofing
N2 Tankers has experienced commercial growth, particularly with its fleet of newbuilds, and Capt Madhu Vadakkepat has overseen early work to implement energy-saving, emissions-reducing measures. Among the immediate steps the company has taken are hull coatings, increased frequency of hull cleaning, and energy-saving devices.
“Many energy-saving services are already engaged, and we are considering measures such as amended hull forms for new builds to assist in reducing carbon emissions,” Capt Vadakkepat explains.
In the medium term, N2 Tankers says it is contemplating changes to hull forms in future newbuilds, aimed at further lowering carbon emissions. These steps reflect the company’s careful commercial approach to balance operational efficiency with steps to meet industry decarbonisation goals.
When it comes to alternative fuels, Capt Vadakkepat remains cautious. While the industry is exploring several options, including bio-LNG, methanol, and hydrogen, he says he believes it is still too early to determine which fuel to invest in.
Although the company’s current newbuilds appear to point to a strategy favouring LNG as a transitional fuel, Capt Vadakkepat suggests that many in the industry, including N2 Tankers, are adopting a "wait and see" approach, rather than committing to any one option at this stage.
“I personally do not see any one fuel taking the lead in the foreseeable future, and as owners and operators, we would like to wait and watch how things unfold,” he said.
In Capt Vadakkepat’s work, decarbonisation is not just a technological challenge; it is also firmly a commercial matter. And while the regulatory push for cleaner shipping is clear, the commercial implications are often overlooked, he said.
“The commercial impact is often ignored amidst clean air discussions, but I foresee a multi-tier market for owners who want to survive until their vessels reach the scrapyard without worrying too much about retrofits.”
Despite the prediction, N2 Tankers has embraced technology as a tool to enhance both operational efficiency and sustainability. The company’s use of the Q88VMS platform allows it to closely monitor fuel consumption and emissions across its fleet, and Capt Vadakkepat said the digital tool has proven invaluable in ensuring that N2 Tankers operates as efficiently as possible. The system now includes tools to manage carbon credits, which are particularly important as the fleet operates within the framework of the European Union’s Emissions Trading Scheme (EU ETS).
“Our systems help count carbon credits, especially under EU ETS mandates where our fleet is deployed, ensuring we meet compliance while operating efficiently,” Capt. Vadakkepat said.
At Riviera’s Tanker Shipping & Trade Conference in London on 22 October 2024, Capt Vadakkepat will join a panel of industry leaders to focus on decarbonisation strategies and future-proofing operations, offering his views and professional expertise as part of a comprehensive look at how tanker companies are preparing to meet new environmental regulations while ensuring commercial viability.
Capt Vadakkepat is expected to bring a practical and balanced perspective to the discussion, drawing from his extensive experience in the sector.
Reflecting on his participation in the 2022 Tanker Shipping & Trade conference in Athens, Capt. Vadakkepat noted that while decarbonisation has remained a hot topic, the conversation has often lacked clear direction.
“For operators, the big question still is: who will foot the bill?” he said.
Capt. Vadakkepat will be sharing his insights live as a panellist at the upcoming Tanker Shipping & Trade Conference 2024. Join industry leaders as they discuss the core issues facing the Tanker sector. Secure your place now and be part of the conversation shaping the future of shipping.
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