GTT inks services deal with EPS and CoolCo

French LNG containment giant GTT said it had signed a technical services agreement with Singapore-based Eastern Pacific Shipping and its affiliate CoolCo.

As part of this agreement, GTT will support EPS and CoolCo with the maintenance and operation of a global fleet of 33 vessels, the Paris-based firm said in a statement.

This includes 24 LNG carriers operated by CoolCo, six very large ethane carriers, as well as three LNG-fueled containerships operated by EPS, all equipped with Mark III or NO96 membrane containment systems technologies developed by GTT.

Also, this TSA includes GTT on-site technical assistance for inspection, maintenance, repairs, operations and engineering services.

EPS and CoolCo will also benefit from access to the HEARS emergency hotline, which enables shipowners and their crews to contact GTT’s experts 24/7 to respond to operational issues, the firm said.

GTT’s chief Philippe Berterottière welcomed the signature of this agreement with “our key partners EPS and CoolCo, who operate a large and diverse fleet of vessels equipped with GTT technologies.”

“Our tailored-made support services, adapted to our customers’ requirements, allow us to guarantee maximum efficiency and safety for the vessels in operation. This new agreement reinforces the long-term relationship we have with EPS and CoolCo,” he said.

EPS owns 58.2 percent of CoolCo

In February, Idan Ofer’s EPS bought all of the shares from Golar LNG and now owns 58.2 percent in CoolCo, while public investors hold the rest.

CoolCo signed deals in November 2022 with units of EPS to add up to six LNG carriers to its fleet, and it already wrapped up the purchase of four LNG carriers under this deal.

The firm has entered into an option agreement to acquire newbuild contracts for two 2-stroke LNG carriers scheduled to deliver in second half of 2024.

CoolCo is working to secure charter contracts for these two LNG carriers prior to exercising the option.

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