GTT's New Partnership with HD Hyundai Heavy Industries
GTT has exciting news to share about a recent collaboration with HD Hyundai Heavy Industries. They have secured an order for the design of cryogenic fuel tanks, set to be used in 12 large container ships that utilize LNG fuel. This marks a significant step forward in the maritime industry's shift towards more sustainable fuel options.
The Design and Capacity of the New LNG Fuel Tanks
Under this new agreement, GTT is tasked with crafting LNG tanks that will hold an impressive volume of 12,750 m³. This advancement features the cutting-edge membrane containment system known as the Mark III Flex, which is specifically designed to enhance efficiency and safety.
Innovative 1 Barg Design
This project will also incorporate a remarkable “1 barg” design, which permits operational pressures of up to 1 barg. This innovative approach, previously applied in another series of vessels, is pivotal for meeting upcoming port regulations aimed at minimizing environmental impact. Ships will increasingly need to connect to shore power while at berth, emphasizing the importance of adaptations in vessel design.
Sustainability Commitment in Maritime Transport
By adopting LNG as the primary fuel source, the new vessels promise reduced emissions of harmful pollutants. GTT estimates that a large container ship powered by LNG can save approximately 25,000 tonnes of CO? emissions annually when compared to those operating on heavy fuel oil. This is a significant milestone in combating climate change and improving air quality globally.
Future Deliveries to Shipowners
The anticipated delivery schedule for these 12 state-of-the-art vessels is set between 2027 and 2028. This timeline reflects GTT's commitment to delivering innovative solutions that align with the increasing demand for eco-friendly practices in shipping.
Insights from Leadership
Philippe Berterottière, the Chairman and CEO of GTT, shared insights on how this order reflects GTT’s dedication to innovation. He noted, “GTT is proud to place its innovation at the service of its customers and to support them in the energy transition of maritime transport.” This commitment is evident in the development of the Mark III Flex system, which exemplifies advanced technology geared towards sustainable shipping practices.
About GTT: Pioneers in Cryogenic Technology
GTT isn't just a player in the LNG sector; it's a leader with over 60 years of history in designing and developing cryogenic membrane containment systems. Their expertise spans various applications, including LNG carriers, floating storage units, and multi-gas carriers while focusing on preparing the maritime sector for a decarbonised future.
In addition to creating tank systems for LNG, GTT is committed to enhancing the economic and environmental performance of commercial vessels through digital innovations. Their subsidiary, Elogen, has also ventured into the green hydrogen market, demonstrating the group's broader vision for sustainable energy solutions.
Investor Relations and Further Information
For those interested in following GTT's journey or seeking more insight, they are listed on Euronext Paris (Ticker: Paris:GTT). This listing allows investors to support and engage with a company at the forefront of energy transition in maritime transport.
For further inquiries, GTT welcomes communication via email at information-financiere@gtt.fr or by calling +33 1 30 23 20 87. Press-related questions can be directed to press@gtt.fr or +33 1 30 23 56 37.
Frequently Asked Questions
What is the significance of the order received by GTT?
The order is significant as it showcases GTT's role in advancing sustainable maritime transport through the development of innovative LNG fuel tank designs.
How does LNG fuel impact emissions?
LNG fuel significantly reduces emissions of nitrogen oxides, sulfur oxides, and CO?, promoting a healthier environment.
When are the new vessels expected to be delivered?
The delivery of the new vessels is scheduled between 2027 and 2028.
What innovative design is being used in these vessels?
The vessels will feature the Mark III Flex containment system and a unique “1 barg” design for greater operational efficiency.
How can investors learn more about GTT?
Investors can find more information on GTT by visiting their official website or reaching out through their investor relations contact.
