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GTT posts ‘record’ orders for fuel containment systems of LNG-propelled vessels in 1H 2022

01 Aug 2022

Engineering firm GTT (Gaztransport and Technigaz) on Thursday (28 July) said it received 38 orders of fuel containment systems for LNG-powered ships in the first half of 2022, confirming another record year in this segment. 

The firm, which produces membrane containment systems used to transport and store liquefied gases, said this was following a record number of orders received in 2021 which was 27 orders. 

“These orders were received from various Chinese and Korean shipyards on behalf of several major global ship-owners. Delivery of the vessels is scheduled between Q1 2024 and Q1 2026,” it said when announcing its financial results for the first half of 2022. 

Philippe Berterottière, Chairman and CEO of GTT, said: “With 88 orders for LNG carriers, our core business sales performance for the first half of 2022 beats our record for the whole of 2021, highlighting particularly strong momentum.”

“Furthermore, the final investment decisions on new liquefaction plants taken in the second quarter, the expected ramp-up of LNG carrier orders from Qatar and increasing demand for LNG in Europe have confirmed the need for infrastructure and LNG carriers in the years to come.”

“The first half is also promising for LNG as fuel, with 38 orders already placed, well above last year’s level. In addition, the growing number of mid-sized container ships in our order book is evidence of our enlarged market share in this sector.”

“In order to meet the needs of the market, new shipyards have been marketing our technologies since the first half of the year.”

Related: GTT receives order from Korean shipyard to design cryogenic fuel tanks of LNG-fuelled box newbuilds
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Related: GTT to design LNG bunker tanks for container newbuildings at Hyundai Samho Heavy Industries
Related: Hyundai Samho Heavy Industries selects GTT technology for LNG-fuelled container newbuilds
Related: GTT to design LNG bunker fuel tanks for 12 CMA CGM Group container newbuildings
Related: Seaspan, SHI and ZIM orders ‘ammonia conversion-ready’ LNG bunker fuel tanks from GTT
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Photo credit: GTT
Published: 1 August, 2022

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