World News
First LNG Bunkering Orders for GTT
Gaztransport & Technigaz (GTT), the French maker of liquefied natural gas (LNG) containment membranes, reports it received its first LNG bunkering segment orders during the first quarter of 2014, as Brittany Ferries chose the company to supply systems for the LNG-powered ferry Pegasis.
GTT's revenue grew 31 percent year-over-year to €59.1 million on a comparable basis.
In addition to the Pegasis order, Brittany Ferries also chose GTT to design tanks of three other ferries, which are being converted to LNG propulsion.
Other orders included one for a floating production storage and offloading (FPSO) project for Petronas and one for an ice-breaking LNG carrier, a first for the company.
"GTT delivered a good performance during the first quarter 2014, driven by the dynamism of both LNGC and FPSO segments," said President and CEO Philippe Berterottière.
"GTT also recorded its first orders in the bunkering segment.
"Moreover, our successful initial public offering shows the investors trust in our business model and in our unique positioning, at the heart of the LNG industry."
GTT, which currently does most of its business in the LNG carrier market, has said investors should expect growth as the company moves into the growing LNG bunkering sector.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 649.50 | 2.00 | 778.50 | 8.50 |
| Rotterdam | 602.00 | 0.50 | 748.00 | 6.00 |
| Houston | 624.00 | 5.00 | 792.00 | 3.50 |
| Fujairah | 649.50 | 2.00 | 898.00 | 3.00 |
| Global 20 Ports Average | 662.00 | 2.00 | 855.00 | 1.50 |
| Global 4 Ports Average | 631.00 | 1.00 | 804.00 | 0.50 |
| Global Average Bunker Price | 717.50 | 0.50 | 913.50 | 1.00 |
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