GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, announced its revenue for the first quarter of the 2025 financial year.
Commenting on the results, Philippe Berterottière, Chairman and Chief Executive Officer of GTT, said: “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 favourable to investment decisions. 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.
Regarding LNG as fuel, GTT booked 12 container ship orders in the first quarter of 2025, in a context of orders growth for new LNG-fuelled vessels, but also competition from containment technologies marketed by Chinese shipyards.
GTT is pursuing its continuous R&D and innovation efforts. In this context, the Group filed a total of 66 patents with the French patent office INPI in 2024, an increase compared to 2023, placing it 23rd in the Top 50 French patent-filing companies. This performance highlights the Group’s innovation momentum and reinforces its position as a leading technological player.
In the field of digital solutions, Ascenz Marorka expanded its real-time fleet performance monitoring service to the Americas time zones, thereby providing 24/7 support to ship-owners, charterers and fleet managers. In early April, Ascenz Marorka also secured a contract to equip the entire TMS Group’s fleet, of more than 130 vessels, with its Smart Shipping solution.
From a financial standpoint, revenue for the first quarter of 2025 showed strong growth, up 32% compared to the first quarter of 2024. Accordingly, in the absence of significant delays in vessel building schedules, the Group confirms its 2025 targets.”