GTT reports 53% increase in revenues

Gaztransport & Technigaz (GTT) has posted €306 million in revenue for the first nine months of the year – 53% up on the €200 million reported for the same period in 2019.

Commenting on the results, Philippe Berterottière, Chairman and CEO of GTT, said revenues for the first three quarters of 2020 ‘fully benefited from the flow of orders over the last two years and are sharply up.’

GTT says its business activity was marked by ‘a number of successes’ during the first nine months of 2020, particularly in the field of LNG carriers. In addition to the 12 LNG carriers booked during the first half of the year, a further six orders were booked in the third quarter of 2020.

Additionally, GTT has also confirmed an order for 10 ice-breaker LNG carriers earlier this week, bringing the total number of orders for LNG carriers since the start of 2020 to 28.

GTT confirmed that, as of 30 September, the order book excluding LNG as fuel stood at 135 units. This includes 108 LNG carriers, 10 very large ethane carriers (VLEC), five floating storage regasification units (FSRU), two floating storage units (FSU), one floating liquefied natural gas platform (FLG), three gravity based structures (GBS) and six onshore storage tanks.

Regarding LNG as fuel, including the two deliveries of a bunker vessel and of the first ultra large containership for CMA CGM, on September 30, the number of vessels in the order book stood at 17 units.

Rhys Berry

Rhys Berry