Contracts and TendersCorporateEurope

GTT logs lower revenue in January-June, books 43 new orders

By LNG Prime Staff
GTT logs lower revenue in January-June, books 18 new orders
For illustration only (Image: GTT)

French LNG containment firm GTT said its revenue dropped 18.9 percent in the first half of this year as it booked 43 new orders.

In the January-June period, GTT’s revenue reached 165.3 million euros ($196.5 million), down from 203.7 million euros in the same period last year.

Ebitda dropped 29.3 percent to 96.5 million euros while net income decreased 33.7 percent to 76.5 million euros.

GTT’s chief Philippe Berterottière said, “revenues for the first half of 2021 are in line with our expectations.”

“They were down 19% compared to H1 2020, which recorded an exceptionally high level following particularly strong order intake, however were up 35% compared with H1 2019,” he said.

During the period, GTT received orders for 18 LNG carriers, two ethane carriers, and six onshore storage tanks. It also won orders for 17 LNG-powered containerships.

On top of this, GTT secured nine new orders for LNG carriers in July “which shows that the market dynamic remains very positive,” Berterottière said.

“In addition, Qatar’s decision in February this year to invest in a new gas liquefaction plant, as well as the various other liquefaction projects under construction, represent significant order potential for LNG carriers,” he said.

GTT’s order book as of June 31 stood at 136 units out of which 110 included LNG carriers. This excludes LNG as fuel where GTT had 25 units on order.

The firm also confirmed its 2021 revenue target within a range of 285 million to 315 million euros.

Most Popular

Contracts and Tenders

Galp wins Calcasieu Pass arbitration against Venture Global

Portuguese energy firm Galp has won an arbitration case against US LNG exporter Venture Global LNG over LNG sales from the Calcasieu Pass plant in Louisiana.
Vessels

MISC to order five more LNG carriers for Petronas charter

Malaysian shipping firm MISC will order five additional newbuild 174,000-cbm liquefied natural gas (LNG) carriers at China's Hudong-Zhonghua. The vessels will serve a 20-year charter with a unit of MISC's parent, Petronas.
LNG Terminals

Singapore LNG kicks off work on third jetty

State-owned LNG terminal operator Singapore LNG has officially kicked off the construction of a new LNG jetty, which will support the further growth of LNG bunkering in Singapore.

More News Like This

Vessels

LR: 200,000 cbm LNG carriers could deliver $85.5 million benefit to owners

Classification society Lloyd’s Register (LR) has identified 200,000 cbm LNG carriers as a "credible next step" for global LNG fleet renewal, with a potential owner benefit of approximately $85.5 million over 30 years.
Vessels

China’s Hudong-Zhonghua develops new LNG carrier design

Chinese shipbuilder Hudong-Zhonghua has received approvals from five classification societies for a new LNG carrier design that features GTT's Next1 containment tech.
Vessels

GTT expects 550 LNG carrier orders by 2035

French LNG containment giant GTT expects approximately 550 orders for large LNG carriers over the next ten years, according to chief executive Francois Michel.
Corporate

GTT secured orders for 56 LNG carriers in H1

French LNG containment giant GTT received orders for 56 liquefied natural gas carriers, two very large ethane carriers, one FSRU, and five LNG storage tanks in the first half of this year, while its revenue decreased 0.4 percent compared to the same period last year.