- GTT plans to increase R&D spending by about 25% in 2019 to meet IMO 2020 sulphur cap.
- The company also plans to develop new variants of their flagship technologies, such as NO96 Flex, and create new ones, such as LNG Brick.
- GTT received an order for a bunker ship with a capacity of 18,600 cum, operated by Japan’s shipowner MOL and chartered by French Total Marine Fuels Global Solutions.
According to a Platts article, French shipping engineering company Gaztransport & Technigaz (GTT) plans to increase R&D spending by about 25% in 2019.
Meet demands for IMO 2020
This move has been initiated to meet market needs related to the International Maritime Organization 2020 requirements, it said in its results published late Tuesday.
“Less than a year away from the global sulfur cap, and in an increasingly stringent regulatory environment, especially in the main trading ports, the interest of shipowners for our LNG propulsion solutions is becoming clear,” said GTT CEO Philippe Berterottiere in a statement.
Newer variants
The company plans to develop new variants of their flagship technologies, such as NO96 Flex, and create new ones, such as LNG Brick.
Recently, GTT received an order for a bunker ship with a capacity of 18,600 cum, operated by Japan’s shipowner Mitsui OSK Lines and chartered by French Total Marine Fuels Global Solutions.
LNG supply
This vessel will be dedicated to supplying LNG to the future container ships of French shipping company CMA CGM, it said. So far in 2019, 11 new LNG carrier orders were placed.
Ship orders in 2018 surged on year to 50 from 21, making its sales hit a 10-year high, driven by demand from natural gas liquefaction units in construction, in particular in the US.
“The pace of future orders will notably depend on FIDs in new liquefaction trains,” said Berterottiere.
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Source: spglobal
