GTT received new LNGCs tank deign order, breaks new record in order intake

Korean shipyard Hyundai Heavy Industries (HHI) has ordered tank designs of eight LNG carriers from French LNG containment specialist GTT.

GTT bags tank design order for eight LNG carriers from Hyundai Heavy
Courtesy of GTT

On 29 July, GTT announces that it received an order from Hyundai Heavy for the tank design of eight new LNG carriers on behalf of an undisclosed European shipowner.

As part of this order, GTT will design the tanks of the ships, which will offer a cargo capacity 174,000 cubic metres each. Each will also feature the Mark III Flex membrane containment system.

The shipyard will deliver the vessels between the third quarter of 2025 and the fourth quarter of 2026.

GTT revealed its first half of 2022 results and said it received record 88 orders for LNG carriers. In addition, the company received 38 containership orders. This is its new record order intake for LNG carriers and LNG-powered vessels.

Moreover, GTT has signed a contract with a major player for GTT Digital to equip 30 vessels with Smart Shipping solutions. 

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Philippe Berterottière, 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.”

“Furthermore, work on projects in which the group is involved in Russia is continuing in compliance with the applicable sanction regimes. However, given the increasing impact of international sanctions on LNG liquefaction projects in Russia, the continuation and proper execution of these contracts are exposed to risks of postponement or cancellation.”

“However, the crisis has highlighted the global scale of gas demand, the need for European countries to achieve energy independence in respect of Russia and, more specifically, the strategic importance of maritime transport of LNG, GTT’s core business.”