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Following a 2024 that marked the second record year in terms of order intake, and in an “uncertain” geopolitical environment, GTT achieved a “solid” commercial performance in its core business over the first nine months of 2025, the company said.
Notably, among these 19 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, while deliveries are scheduled between 2027 and 2031.
Over the period, GTT also received an order from South Korea’s Samsung Heavy for one FLNG with a capacity of 238,700 cbm.
This is for Eni’s Coral Norte FLNG.
In the first quarter of this year, GTT booked orders for nine LNG carriers. It booked only one LNG carrier order in the second quarter.
This means that GTT secured orders for nine LNG carriers in the third 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.
LNG as fuel
GTT did not receive orders for LNG-fueled vessels in the third quarter.
The firm 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 September 30, 2025, GTT’s order book, excluding LNG as fuel, stood at 332 units.
This includes 267 LNG carriers, 22 ethane carriers, three FSRUs, and three FLNGs.
The order book for LNG fuel stood at 51 units, all containerships.
Moreover, GTT said its consolidated revenue rose 29 percent to 599.6 million euros ($695.4 million) in the nine-month period, while its newbuild revenues reached 558.3 million euros, up 30.2 percent year-on-year.
“The commercial performance of our core business remained robust during the first nine months of 2025, despite persistent geopolitical uncertainty,” Philippe Berterottière, chairman and CEO of GTT, said.
“In the United States, the lifting of the moratorium on new LNG projects has spectacularly reignited investment decisions. Ten new liquefaction projects have been approved, including six in the United States, for a record capacity of 84 Mtpa. This momentum is driving a very significant increase in the need for new LNG carriers,” he said.
“Given the strong performance of GTT’s core business and the contribution from Danelec, we are raising our 2025 objectives,” Berterottière said.
GTT expects 2025 consolidated revenue to be between 790 million euros and 820 million euros, and consolidated 2025 Ebitda to be between 530 million euros and 550 million euros.
