June 18, 2021

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GTT receives new order from Korea’s Hyundai Heavy Industries, company news

GTT will design tanks of two new ethane tankers for the Korean owner Hyundai Heavy Industries. These tanks will be equipped with Mark III technology. Handover is scheduled from the end of 2022.

| Image credits: GTT

GTT, a specialist in membrane containment systems for the transport and storage of liquefied gas, has received a new order from Hyundai Heavy Industries, Korea, to design tanks for two new large ethane carriers. GTT will be responsible for designing these tanks. Total cargo capacity will reach 98,000 square meters3.

The tanks will incorporate GTT’s Mark III technology: Cryogenic coating, intended to contain liquefied gases at low temperatures for transport by ships or storage on land and at sea, under atmospheric pressure », Explains the group on its website. This technology, installed on more than 200 ships, has more than 50 years of experience in offshore feedback.

The ships will be delivered to the ship owner during the fourth quarter of 2022 and the first quarter of 2023. These ships are designed for several gases: ethane, LPG, ethylene and LNG, which GTT is specializing in. ” This is a complementary market [des éthaniers] It underlines its dynamism and versatility of GTT ports. We estimate this request at a maximum of 10 million euros », Identifies Nicholas Royot, the analyst responsible for the file at Portzamparc.

As a reminder, GTT bills increased 37.5% last year. As for the net score, he had it Increases by 38.7% to 198.9 million euros. At the end of February, this good performance failed to satisfy the stock market, which falls short of analysts’ expectations.

The movement lost 2.03% on Friday to € 67.5.


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