TWG: surrounded after a new order

© Reuters. TWG: surrounded after a new order

At the head of the SBF120, GTT (PA:GTT) climbed 3.4% following the announcement on Friday evening, an order from a shipyard in south korea on the design of the tanks as LNG to three new lng tankers to be delivered for the first half of 2020.

The group will carry out the design of the tanks of LNG, representing each with a capacity of 174.000 cubic metres. They will be equipped with the containment system in membrane Mark III Flex, a technology developed by GTT.

If the name of the shipowner and the yard remains at this stage confidential, Portzamparc believes the amount of the contract to around 25 million euros, under the assumption of a first order series.

‘This confirms our scenario of an acceleration of orders in the coming months and a trough in 2019, less pronounced than feared by the consensus’, says the analyst, recalling that TWG figure in his list of ‘Convictions’ for the first half of 2018.

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