GTT has reported strong commercial performance in the first half of 2024, recording 58 orders and noting the industry’s high demand in LNG.
As informed, the company saw a very high level of orders with 52 LNG carriers, 4 large-capacity ethane carriers, 1 FSRU and 1 FLNG ordered in the first half of 2024. According to the company, this reflects the sustained high demand for LNG, underscored by two significant investment decisions for new liquefaction projects announced in June, which will drive the need for more LNG carriers.
With 58 orders recorded in the first half of 2024, commercial performance in our core business continues to be very strong. LNG demand remains high, as illustrated by the two final investment decisions announced in June 2024 for new liquefaction projects (Cedar FLNG and Al Ruwais), leading to additional LNG carrier needs.
… said Jean-Baptiste Choimet, Chief Executive Officer of GTT
Drewry recently reported that they expect LNG to remain a viable marine fuel option until 2035. The analysis indicates that by 2029, there will be over 1,100 LNG-fueled vessels and 1,000 LNG carriers in operation, which will secure the demand for LNG in maritime applications.
As of now, there are 560 LNG-fueled vessels on order, representing 57% of the alternative-fuel fleet, and the number is expected to exceed 1,100 by 2029, Drewry reports.
