GTT Reports Strong H1 Order Book

Maritime Activity Reports, Inc.

July 26, 2019

Image: GTT

Image: GTT

French liquefied natural gas (LNG) containment system specialist GTT has posted a strong first-half order intake at the end of June corresponded to revenues of 713 million euros over the 2019-2022 period in its core business, which excludes LNG vessel propulsion systems and related services.

The order book at the end of June had increased 27.4% year-on-year to 107 units. GTT said in its half-year report that “almost all” of its customers come from Asia, the world’s top LNG consumer.

During the first half of 2019, GTT's business activity was marked by multiple successes, particularly in the field of LNG carriers, the gas transport systems supplier said in a press release.

With 26 orders for LNG carriers booked during the first half of 2019, GTT's core business activity now stands at a particularly high level. All of the carriers will be equipped with GTT's recent technologies (Mark III Flex+, Mark III Flex and NO96 GW). Delivery is scheduled between end-2020 and end-2022.

Philippe Berterottière, GTT Chairman and CEO of GTT, said: "The first half of 2019 was characterised by intense business activity and LNG carrier orders still at record levels."

"In the field of LNG as fuel, the attractiveness of GTT membrane technologies to ship-owners is increasingly evident, with recent orders from ship-owner Hapag Lloyd for the conversion of one of its container ships, and 5 new very large container ships from a European ship-owner," he added.

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