Liquefied natural gas (LNG) membrane containment systems engineering firm Gaztransport & Technigaz (GTT) completed its first half (H1) of 2018 with positive news from activity in the LNG marine fuel sector.
“In the field of LNG fuel, the success recorded by GTT confirmed the attraction of ship-owners for its membrane technologies,” said Philippe Berterottière, Chairman and CEO of GTT.
“After the order for nine giant container carriers from CMA CGM at the end of last year, in January the Group obtained one order for a bunker ship to be operated by TOTAL to supply the LNG to these container carriers.
“In early July, GTT obtained a major success with the order of LNG tanks intended for the future Ponant icebreaker cruiser. In this particular case, GTT will be responsible for the construction of these tanks, thereby offering its partners a true turnkey solution.”
The company’s overall results recorded net income of EUR 75.7 million (USD $88.27 million) in H1 2018, a 20% increase from net income of EUR 63.1 million in the similar period last year with respective operating margin of 59.5% and 55.5% during the comparative periods.
Revenue in H1 2018 was EUR 127.2 million, compared to revenue of EUR 113.7 million in H1 2017.
A summary of LNG fuel activity of GTT in H1 2018 are as follows:
Published: 30 July 2018
The information provided in the paper can support the decision-making process for future ship designs, propulsion systems, and fueling strategies.
The operation marks the company’s venture into LNG bunkering which has been in development with various Malaysian government agencies since 2017.
Newbuildings capable of exceeding IMO 2030 requirement through use of battery hybrid technology combined with LNG dual-fuel engine solution.
The facilities for storing LNG bunker fuel will be supplied by Repsol in Spain where the firm will build two quayside LNG bunkering terminals.
Maritime sector will not reach net zero emissions by 2050 under the IEA's scenario, because of a lack of low-carbon options and the long lifetime of vessels.
Bunkering vessel to start operations in 2H2020 after delivery from Keppel Offshore & Marine’s shipyard.
Top three positive movers in 2021 were Hong Lam Fuels Pte Ltd (+14); Sirius Marine Pte Ltd (+12); and TFG Marine (+11); according to the latest data from the Maritime and Port Authority of Singapore.
Webinar will offer delegates insights on the prevention of operational issues when using VLSFOs, along with an update on biofuels and bunker fuel quality trends for 2021 and its forecast for the current year.
Heating VLSFOs to prevent cold flow issues causes issues related to distillate ageing, and there is a gentle balance to be maintained when handling the product.
Research into n-paraffin distribution of VLSFOs has shown that they not only differ from MGO, but significantly differ from each other as well, states bulletin.
Bunker Holding and Dan-Bunkering have decided not to appeal the city court ruling in the case where the companies were on trial for breaching EU sanctions against Syria, states USTC.
Poll shows market participants think Singapore’s future as a bunkering hub in the near term will be impacted most by growth in alternative bunker fuels and intensifying competition from other ports in Asia.
