GTT Receives Order for Two LNG Carrier Newbuilds

Maritime Activity Reports, Inc.

June 2, 2016

GTT has received an order from Hyundai Heavy Industries (HHI) for two new liquefied natural gas carriers (LNGCs) to be built at HHI’s shipyard in Ulsan for SK Shipping, a Korean shipowner. Delivery is scheduled in 2019.             
The vessels, designed according to the new IGC standards published in 2016, will be equipped with GTT's Mark III Flex membrane technology. Mark III Flex is particularly well-suited for the highly efficient XDF propulsion system installed on SK Shipping's LNG carriers, as the technology offers a high level of insulation performance.
“GTT is very pleased to continue our collaboration with HHI. This new contract demonstrates HHI's confidence in GTT technologies which already equip some fifty LNG carriers in service built by the shipyard,” said Philippe Berterottière, Chairman and CEO of GTT. “SK Shipping has been using vessels equipped with GTT membranes for some time, and we are very committed to this excellent partnership.”
Mark III Flex technology is a solution with more than 60 LNG carriers order references worldwide since 2011, 34 of which are in service.
GTT said it continues to develop its Mark range, particularly through improvements in design and the use of components that are more and more efficient. This development allows GTT to offer insulation solutions that provide increasing performance adapted to the requirements of the latest vessel propulsion systems, which are more fuel efficient, as well as new projects that require greater resistance to liquid motion, particularly for multi-gas applications, or partially filled tanks (FSRU, FLNG, etc.).
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