French engineering firm GTT received an order from South Korea’s Daewoo Shipbuilding & Marine Engineering (DSME) to supply its NO96 GW membrane containment system for two 174,000-m3 LNG carriers (LNGCs) being built for an undisclosed European shipowner. Delivery of the vessels is planned for Q1 2021.
GTT's NO96 GW membrane containment system uses a cryogenic liner directly supported by the ship’s inner hull. The primary and secondary layers of the liner are both made from Invar, a 36% nickel-steel alloy, 0.7-mm thick, and two independent insulation layers that consist in a load bearing system made of prefabricated plywood boxes filled with expanded perlite – a form of volcanic glass.
DSME’s order follows on the heels of the announcement that GTT will supply its Mark III Flex+ containment systems to Samsung Heavy Industries (SHI) for two 180,000-m3 LNGCs for Monaco-based Gaslog Ltd. Those ships, set for delivery in Q2 and Q3 2021 respectively, will each go on a seven-year time charter with a wholly owned subsidiary of Cheniere Energy, Inc, Houston, Texas.
The market for membrane containment systems should remain strong this year, with an estimated 40 new LNGCs expected to be ordered based on projected global LNG export plans. Many of those orders will go to South Korean shipyards. By the end of 2018, SHI had won US$6.3Bn in new orders, including 18 LNGCs.
Meanwhile, in its latest presentation to investors, DSME reported that it received orders for 18 LNGCs and an LNG FSRU last year, which made up more than half of its US$6.81Bn total ship sales in 2018. As of December 2018, DSME’s backlog totalled US$23Bn, with 106 vessels, including 40 LNGCs and an LNG FSRU on its orderbook.
Hyundai Heavy Industries and Hyundai Samho Heavy Industries had a backlog of 184 vessels, 61 of which were LNGCs as of last November.