French GTT to boost spending for high-tech LNG ships ahead of IMO 2020 cap
French shipping engineering company Gaztransport & Technigaz (GTT) plans to increase R&D spending by about 25% in 2019, to meet market needs related to the International Maritime Organization 2020 requirements, it said in its results.
“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.
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 cu m, operated by Japan’s shipowner Mitsui OSK Lines and chartered by French Total Marine Fuels Global Solutions.
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.