World News
GTT Draws Attention to Gravity Based LNG Bunkering System
Gaztransport & Technigaz (GTT), in its financial results for the first half of 2017, took the opportunity to highlight its Gravity Based System (GBS), a liquefied natural gas (LNG) bunkering station that features a concrete chamber and a membrane containment tank designed by GTT.
"It sits on the seabed and can be installed in a port or isolated area and requires no additional infrastructure. This reduces installation costs while limiting the environmental impact," explained GTT.
The company notes that it presented the gravity based subsea storage solution at the Gastech Exhibition & Conference in early April 2017.
Philippe Berterottière, Chairman and CEO of GTT, commenting on the company's financial results for the H1 2017 period, said: "operationally, we continued our development efforts by providing the market with new technologies intended for related segments, such as LPG transportation and marine gravity based storage.
"The margin levels achieved during H1 2017 demonstrate a good control of expenses at all levels of the income statement. These performances have enabled us to confirm our revenues, net margin and dividend outlook for the whole of the 2017 financial year."
Last month, Ship & Bunker reported that GTT outfitter Gabadi S.L. (Gabadi) and China's AojiHeng Offshore Engineering (AJH) had launched a joint venture (JV), Gabadi Marine Engineering (Shanghai) Co., Ltd (Gabadi Marine), aimed at the gas-fuelled marine market.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 623.50 | 1.00 | 726.50 | 0.50 |
| Rotterdam | 566.00 | 3.50 | 737.00 | 2.50 |
| Houston | 585.00 | 8.00 | 750.00 | 12.50 |
| Fujairah | 628.00 | 1.00 | 881.00 | 2.00 |
| Global 20 Ports Average | 636.00 | 3.50 | 815.50 | 4.50 |
| Global 4 Ports Average | 600.50 | 3.50 | 773.50 | 4.50 |
| Global Average Bunker Price | 690.00 | 1.50 | 876.50 | 5.00 |
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