France Country Report 2016

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Discovery Reports

GTT raises standards in membrane containment systems

PUBLISHED : Monday, 14 March, 2016, 3:07pm
UPDATED : Tuesday, 29 March, 2016, 5:15pm

Country Business Reports interviews and articles by Discovery Reports

Aside from being major players in the liquefied natural gas (LNG) sector, companies such as Chevron, China LNG Shipping, Mitsui OSK Lines and Teekay LNG Partners, among others, have one thing in common: they entrust their LNG containment needs to engineering firm GTT.

GTT sets the industry benchmark in LNG transport and storage with its cutting-edge cryogenic membrane containment technology. With its design flexibility, GTT membrane tanks enable the construction of safe, reliable, modern and cost-effective storage for projects of all sizes.

Deep ties with shipyards and shipowners worldwide help GTT develop innovations, such as adapting its membrane technology for small- and mid-scale vessels for coastal and river trade. GTT's compact and efficient designs enable improved harbour access and the best ratio of cargo volume and gross tonnage.

This year, GTT inked agreements with industry heavyweights Samsung Heavy Industries and Hyundai Heavy Industries to optimise the industrialisation of its Mark V system. The technology combines all the advantages of the Mark systems plus a new metallic secondary membrane with improved thermal performance that reduces LNG cargo boil-off rate. With this latest addition to GTT's portfolio, customers benefit from greater cost savings.

Leveraging its good relations with shipyards, GTT continues to fill its order book. For the first half of last year, GTT received 31 new orders, bringing up the total to 128 orders as of June 2015. Among the total are four carriers GTT will be working on together with Hudong-Zhonghua Shipbuilding.

"Our order book is currently worth some HK$6.92 billion in revenues out to 2020, giving GTT increased revenue visibility for the years ahead," says Philippe Berterottière, GTT chairman and CEO.

GTT sees great growth opportunity in Asia and has accordingly established subsidiaries in Singapore and Shanghai to better understand regional market trends. GTT welcomes partnerships with companies that can help it gain better traction in Asia.