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“Following a record-breaking 2024 (the second-highest year ever in terms of order intake), and in an uncertain geopolitical environment, GTT maintained strong commercial momentum in its core business during the first half of 2025,” the company said in its results report.
Notably, among the ten LNG carrier orders, six are for ultra-large vessels with a capacity of 271,000 cbm placed with the Chinese shipyard Hudong-Zhonghua.
These vessels will be fitted with GTT’s NO96 Super+ membrane containment system.
Deliveries are scheduled between 2027 and 2031.
Moreover, GTT noted that the VLECs will each have a total capacity of 100,000 cbm, the largest ever for this type of vessel, and will feature GTT’s Mark III membrane containment system.
Deliveries are scheduled in 2027 and 2028.
In the first quarter of this year, GTT booked orders for nine LNG carriers.
This means that GTT booked only one LNG carrier order in the second quarter.
Last year, the firm booked orders for 72 LNG carriers. This includes orders for 25 LNG carriers in the first quarter, 27 LNG carriers in the second quarter, 16 LNG carriers in the third quarter, and four LNG carriers in the fourth quarter.
“With 17 orders recorded in the first half of 2025, commercial activity in our core business remains robust, despite an uncertain geopolitical environment. In the United States, the lifting of the moratorium on new LNG projects has reignited investment decisions: three new liquefaction projects have been approved, representing a total capacity of 36 mtpa and generating additional demand for LNG carriers,” Philippe Berterottière, chairman and CEO of GTT said.
LNG as fuel
GTT also received orders for 18 LNG-powered container vessels in the first half of this year.
Earlier this year, French shipping giant CMA CGM ordered 12 LNG dual-fuel containerships from South Korea’s HD Hyundai Heavy Industries.
The LNG tanks of these container vessels will have a capacity 12,750 cbm.
Moreover, GTT announced a further order received in the second quarter, placed by HD Korea Shipbuilding & Offshore Engineering and concerning the design of 8,000 cbm tanks for six new LNG-powered container ships on behalf of Greece’s Capital.
All of these LNG tanks will be fitted with GTT’s Mark III Flex membrane containment system, along with the “1 barg” design, which allows an operating pressure of up to 1 barg.
Revenue climbs
As of June 30, 2025, GTT’s order book, excluding LNG as fuel, stood at 332 units.
This includes 280 LNG carriers, 23 ethane carriers, three FSRUs, and two FLNGs.
The order book for LNG fuel stood at 54 units, all containerships.
Moreover, GTT said its consolidated revenue rose 32 percent to 389 million euros ($449.4 million) in the first half, while its newbuild revenues reached 365 million euros, up 35 percent year-on-year.
“Based on GTT’s momentum seen in the first semester and in the absence of significant delays in vessel construction schedules, the group confirms its full-year 2025 objectives,” Berterottiere said.
GTT expects 2025 consolidated revenue to be between 750 million euros and 800 million euros, and consolidated 2025 Ebitda to be between 490 million euros and 540 million euros.