GTT awarded tank design contracts for six LNG carriers by Jiangnan Shipyard, Samsung Heavy Industries, and Shandong Marine Energy

This announced supply agreement sees GTT, a specialist in cryogenic containment systems, awarded contracts for the design of Mark III Flex membrane cryogenic tanks for six new LNG carriers. The contracts were secured from prominent global shipbuilders Samsung Heavy Industries and Jiangnan Shipyard, alongside Shandong Marine Energy. Each carrier will have a substantial capacity of 174,000-175,000 m3, with deliveries anticipated between 3Q 2028 and 1Q 2029. This deal underscores GTT's continued dominance in critical LNG infrastructure technology and represents a significant step in expanding the global fleet of LNG transport vessels. The deal is notable for the involvement of major international players across the shipbuilding and energy sectors, including a leading South Korean shipbuilder (Samsung Heavy Industries) and a prominent Chinese state-owned shipbuilder (Jiangnan Shipyard). The substantial capacity of the six carriers highlights the scale of investment in future LNG transport capabilities. The selection of GTT's Mark III Flex membrane technology further emphasizes the industry's reliance on proven, advanced solutions for safe and efficient LNG containment. While the value remains undisclosed, the long-term delivery schedule into 2028-2029 indicates a strategic commitment to meeting future energy demands. This agreement is situated within the robust and expanding global gas sector, specifically the liquefied natural gas (LNG) shipping market. The continuous demand for LNG as a transitional fuel and energy source drives the need for new, high-capacity carriers. Deals like this are crucial for ensuring the necessary infrastructure is in place to facilitate the global trade and distribution of natural gas, supporting energy security and market growth.