GTT nets LNG tank orders from Korean yards

French LNG tank specialist GTT has won orders from two South Korean shipyards.

Hyundai Samho Heavy Industries awarded the first order to GTT at the end of June, according to a GTT statement.

Under this order, the French firm will design the tanks for one 174,000-cbm LNG carrier.

Moreover, the newbuild will feature GTT’s Mark III Flex membrane technology.

GTT said Hyundai Samho would build this carrier for a Liberia-based owner and deliver it by the end of 2023. The firm did not reveal any additional information.

Hyundai Samho will probably build this vessel for Norway’s Knutsen.

To remind, Shel said last week it had agreed long-term charter contracts for six 174,000-cbm newbuild LNG carriers with Knutsen, Pan Ocean, and investors advised by J.P. Morgan Asset Management.

Hyundai Heavy Industries and Hyundai Samho will build these vessels and start delivering them from 2023.

DSME deal

In addition to the Hyundai Samho contract, GTT has also secured work from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME).

DSME will build one 174,000-cbm LNG carrier for an Asian shipowner but this vessel will feature GTT’s NO96 GW membrane containment system.

This contract replaces the previous order announced in June 2020 for a floating storage and regasification unit (FSRU) with a capacity of 263,000 cbm, according to GTT.

DSME will deliver this vessel at the end of 2023, GTT said, without providing any additional information.

Japan’s shipping giant MOL has earlier this year amended its order to build the FSRU after its partner Uniper decided to develop a hydrogen hub instead of an LNG import terminal in Germany’s Wilhelmshaven.

DSME will instead build the LNG carrier for almost half of the original price.

The revised deal has a price tag of about 226 billion won ($202 million).

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