French LNG storage company GTT reports profit dip while orders hit record level as vessel demand grows
Gaztransport and Technigaz (GTT), the French LNG storage technology company, reported a slight drop in full-year revenues though the results were strong as orders also reached a record level with demand increasing for new vessels.
LNG carrier orders
Nov 18 (LNGJ) - Shipyards in China and South Korea have seen orders in the past month for at least eight newbuild liquefied natural gas carriers and one floating storage and regasification unit (FSRU) as the global fleet expands to meet rising demand. The orders include two vessels of 175,000 cubic metres capacity under an order made by German ship management company Hammonia Reederei and to be delivered between 2025 and 2026 from China's Yangzijiang Shipbuilding.
Two other newbuilds were ordered by US plant developer Venture Global from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) for a price of $500 million, according to shipyard data. The two ships are due for delivery at the end of 2026. The Chinese company Tianjin Southwest Maritime (TSM) has joined with the leasing entity of China State Shipbuilding Corp (CSSC) to order a further three 174,000 cubic metres capacity LNG vessels from China’s Hudong-Zhonghua Shipbuilding.
