GTT enters into strategic cooperation agreement with CSSC

Paris – 7 December 2023. GTT, the technological expert in membrane containment systems used to transport and store liquefied gases, announces the signing of a strategic cooperation agreement with China State Shipbuilding Corporation Limited (CSSC), the leading Chinese ship-building group, at the opening ceremony of the Marintec China international trade fair.

The agreement provides for cooperation between GTT and twelve subsidiaries of the CSSC conglomerate, notably in ship design and construction, cryogenic containment technologies for LNG shipping, LNG as fuel and smart shipping solutions.

As part of this agreement, GTT and CSSC aim, on the one hand, to develop and market competitive LNG tank solutions with GTT technologies, for all types of vessels, including LNG-propelled container ships, bulk carriers, oil tankers and Pure Car and Truck Carriers. On the other hand, cooperation between the two groups is aimed at the optimization of the engineering of LNG carriers, particularly on capacities ranging from 175,000 m³ to 270,000 m³, but also of the latest generation VLEC and offshore platforms (FLNG and FSRU).

Philippe Berterottière, Chairman and CEO of GTT, commented: "This cooperation agreement with CSSC marks an important step in our development strategy in China. Together, we will explore opportunities for innovation and strengthen our position in a constantly evolving maritime sector."

As a reminder, Hudong-Zhonghua Shipbuilding Co., Jiangnan Shipyard Co., Dalian Shipbuilding Industry Co., and Shanghai Waigaoqiao Shipbuilding Co. are among the subsidiaries of the CSSC group authorized to construct GTT technologies under Technical Assistance and License Agreements (TALA).