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GTT releases revenue results

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LNG Industry,


GTT (Gaztransport & Technigaz) has announced its revenues for the first nine months of 2018.

Highlights:

  • Main ‘vessel’ activity
    • The 18 orders recorded in 1H for the design of tanks for LNG carriers were supplemented with 14 new orders in Q3, bringing the total to 32 orders for the first nine months of 2018. All of these vessels will be equipped with recent GTT technologies (NO 96 GW, Mark III Flex and Mark III Flex+).
    • Two orders for the design of FSRU tanks were recorded over the first six months. The pace of these orders is consistent with the group’s medium-term forecasts.
  • Onshore storage activity
    • In September 2018, GTT received an order from the European Organization for Nuclear Research (CERN) for the design of a containment system for a 12 500 m3 onshore storage tank that will contain liquid argon for experimental purposes.
  • LNG fuel activity
    • One order for a bunker ship with a capacity of 18 600 m3 was recorded at the beginning of the year. Operated by Mitsui OSK Lines Ltd. and chartered by Total Marine Fuels Global Solutions (TMFGS), this ship will be dedicated to the supply of LNG to the future CMA CGM container carriers.
    • In July 2018, GTT also recorded an order from the Vard shipyard to build LNG tanks for the PONANT Icebreaker, the first LNG-powered icebreaker cruise ship.
  • Services activity
    • During the first half of 2018, GTT was commissioned to conduct preliminary engineering studies for new GBS (Gravity Based System) terminal projects.

Philippe Berterottière, Chairman and Chief Executive Officer of GTT, commented: “In Q3, business was marked by ongoing ship orders. With 34 orders of LNG carriers and FSRUs recorded to the end of September, 2018 is set to be a record year for our main business line. We were also successful in the promising field of LNG fuel. The order received in July to equip the LNG tanks of the Ponant Icebreaker is symbolic of shipping companies’ growing interest in our LNG propulsion solutions. We are continuing our efforts to enter into industrial and commercial partnerships to step up our development in this field. We are continuing to prepare the future by constantly improving our technologies. We thus obtained a classification society’s approval-in-principle for the development of NO96 Flex, a new, higher-performance version of our NO96 technology. On the strength of the particularly high number of orders received since the beginning of 2018 and the growth in our services business, we can confirm our objectives for our FY 2018 revenues, net margin and dividend.”

Read the article online at: https://www.lngindustry.com/floating-lng/29102018/gtt-releases-revenue-results/

 

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