GTT, an engineering firm that specialises membrane containment systems used to transport and store liquefied gases, on Thursday (16 February) announced its results for the 2022 financial year.
GTT said it received orders to equip 42 LNG-powered vessels in 2022. The high price of LNG in Europe is hampering sales momentum in the short term, as confirmed by the absence of orders in the fourth quarter of 2022.
“Nevertheless, GTT remains convinced of the relevance of its solutions, which enable vessels to comply with new environmental standards, and therefore of the medium- and long-term potential of this business,” it said.
During 2022, GTT pursued its strategy of developing new digital solutions for ship-owners and signed a number of important contracts highlighting the increasing needs of ship-owners in this area.
In December 2022, Singapore-based GTT subsidiary Ascenz was selected by a major European ferry owner to fit two vessels with its Smart Bunkering solution. This solution enables precise monitoring of the bunkering process in order to avoid any error in quantity of fuel bunkered.
Finally, on January 16, 2023, Ascenz was selected by a major Mexican ship-owner to equip a tanker with its Electronic Fuel Monitoring System (EFMS).
In 2022, GTT obtained numerous approvals in principle from classification societies in a wide range of fields. The main technological advances include:
Photo credit: GTT
Published: 20 February, 2023
Toshi Nakamura, executive officer at NYK, participated in the session "The Way of Producing and Using ‘Clean LNG’” to brief delegates on the firm’s plans.
The amount of bunkers sold at the port totalled 27.59 million mt from January to July, 6.1% down on year.
‘We took swift action to reduce our costs to better align with current economic realities, mitigating the negative impact of the near-term decline in gross profit,’ said CFO.
USD 41 million contract will last for a total duration of five years from January 31, 2022 to January 31, 2027.
Guangzhou Development Bibi Youpin Co., Ltd. and Guangzhou Yuanheng Storage Co., Ltd. secured licences from the Guangzhou Municipal Government.
Ability of Iran to promptly restore abundant exports of the fuel will be one of the key factors weighing on regional margins and differentials.
Transferred shares of 40 subsidiaries to BVI firm after tribunal awarded claims in favour of Trinity Seatrading; YSPL has also filed a civil complaint against DNV and Liberian ship registry at Nanjing Maritime Court.
ADNOC L&S, Gulf Energy Maritime, Cockett Marine Oil, Mideast/Bahri Ship Management and VPS experts present their views on biofuel bunker hurdles at the VPS Biofuels Seminar in Dubai on 16 March.
‘Bunker barges operate in very local areas so these vessels call at port very often which means it will be a good fit for women with families,’ states Elpi Petraki, President of WISTA International.
“Our Singapore branch is under preparation and is expected to start business at the republic before June 2023,” Managing Director Darcy Wong tells bunkering publication Manifold Times in an interview.
Development to supply B35 biodiesel blend officially takes effect on 1 February; local bunker suppliers will be able to deliver updated spec within March onwards, once current stocks of B30 avails run out.
VPS, Global Centre for Maritime Decarbonisation, Wilhelmsen Ship Management, and INTERTANKO executives offered a multitude of perspectives to 73 attendees during the VPS Biofuels Seminar, reports Manifold Times.
17 Mar 2023
