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GTT said in its financial report that deliveries of these LNG carriers will take place between 2027 and 2031.
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.
Besides nine LNG carriers, GTT won orders for seven very large ethane carriers as well as 12 LNG-powered containerships in the first quarter.
“With 16 orders for LNG carriers and very large ethane carriers booked in the first quarter of 2025, commercial performance in our core business remained strong in a global environment marked by significant uncertainty, less favorable to investment decisions,” Philippe Berterottière, chairman and CEO of GTT said.
“However, the lifting of the moratorium on new LNG projects in the United States should pave the way for new investment decisions in liquefaction units in 2025 and 2026, generating new needs for LNG carriers,” he said.
Berterottière is currently interim CEO of GTT while the company searches for a new CEO following the departure of Jean-Baptiste Choimet.
Revenue climbs
As of March 31, 2025, GTT’s order book, excluding LNG as fuel, stood at 325 units.
This includes 292 LNG carriers, 21 ethane carriers, three FSRUs, two FLNGs, and five onshore storage tanks.
The order book for LNG fuel stood at 55 units, all containerships.
Moreover, GTT said its consolidated revenue rose 31.6 percent to 190.5 million euros ($216.6 million) in the first quarter, while its newbuild revenues reached 180.5 million euros, up 35.6 percent year-on-year.
“From a financial standpoint, revenue for the first quarter of 2025 showed strong growth, up 32 percent compared to the first quarter of 2024. Accordingly, in the absence of significant delays in vessel building schedules, the group confirms its 2025 targets,” Berterottière 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.