GTT (Gaztransport & Technigaz), an engineering firm specialising in containment systems with cryogenic membranes used to transport and store liquefied natural gas (LNG), posted its results for the first nine months of (9M) 2020.
Its LNG as fuel segment posted an orderbook at 17 units with its royalty income up 12.1% on year to €6.5 million (USD 7.56 million) in 9M 2020. The segment noted two deliveries of a bunker vessel and the first ultra large containership for CMA CGM at September 30, 2020.
In 9M 2020, GTT recorded total revenue of €305.6 million, up 53.1% year on year; its order book at 30 September 2020 stood at 135 units for the core business (not including the LNG as fuel segment).
Revenue from new builds were €295.4 million, up 56.4%. Royalties from LNG carriers increased by 67.2% to €263.5 million, while royalties from FSRUs increased by 2.3% to €19.7 million. Other royalty income stemmed from FLNGs were €3.3 million, Gravity Base Structures at €1.9 million, and onshore storage tanks at €0.6 million.
“With a total of 38 orders booked since the start of the year for all segments taken together, GTT’s commercial activity continue to progress at a firm pace, and LNG demand is maintaining its upward trend, driven by Asia,” said Philippe Berterottière, Chairman and CEO of GTT.
“Revenues for the first 9 months of 2020 fully benefited from the flow of orders over the last two years and are sharply up. As a result, considering the strong level of our backlog and shipbuilding schedules, we confirm our revenue and EBITDA targets for the full year 2020.”
Given the size of the backlog, and assuming there are no major delays or cancellations of orders, GTT confirms its 2020 full year consolidated revenue will be between €375 and €405 million, while its 2020 consolidated EBITDA will be between €235 million and €255 million.
Related: CMA CGM welcomes world’s first LNG powered 23,000 TEU vessel in naming ceremony
Photo credit: GTT
Published: 2 November, 2020
Northern Marine officers are experiencing working life onboard Navigator Gas’s 37,500 cbm ethylene capable gas carrier Navigator Aurora.
The vessel will use Yokohama Port as a home port to receive LNG bunker fuel, says shipbuilder.
As part of the MoU, Petronas and CNOOC will explore establishing a global bunkering supply network, leveraging on both companies’ experience in LNG bunkering.
Jetty which was initially designed to accommodate 265,000 m3 capacity ships now undergoing changes to fit smaller vessels.
SEALNG commissioned analysis reveals scrubbers to be ‘significantly more expansive’ than widely reported.
The European Union on Tuesday (27 July) said it will invest €118 million into 32 small innovative projects located in 14 EU Member States, Iceland and Norway.
‘We’ll start the application [to MPA] before the end of 2022 and hopefully to receive approval within six months or sooner,’ L. Y. Hwang, Director / General Manager of Oval Asia Pacific Pte Ltd, tells Manifold Times.
Digitalisation makes it easier for shipowners to conform to growing external regulations such as new sulphur regulations and ‘no scrubber’ zones; operators can identify better bunkering options to reduce costs.
Eventual adoption of Digital Bunker Document Standard speeds up interoperability between stakeholders from both public and private sectors, learns Singapore bunkering publication Manifold Times.
Rob Ashton, Market Manager of Infineum, explains how Infineum B402 is a relatively easy way for a ship operator to positively influence a vessel’s CII rating while improving its bunker fuel consumption performance.
Fifteen incidents of misappropriation of Shell gasoil worth USD 10,4 million went undetected by Shell between 2016 to 2017 due to Muhammad Ali Bin Muhammad Nor’s involvement, learned Manifold Times.
ISO delegates represented seven countries and were in Singapore to attend a three-day meeting of ISO WG13 to develop two new ISO bunkering standards, learns Singapore bunkering publication Manifold Times.
