GTT and Yangzijiang Shipbuilding sign a Technical Assistance and License Agreement for the construction of GTT membrane containment systems
GTT has signed a Technical Assistance and License Agreement with Yangzijiang - the largest private shipyard in China – enabling the yard to construct vessels using GTT membrane technologies, according to the company's release.
This Technical Assistance and License Agreement is a new step forward in the development of GTT technologies in China. Yangzijiang successfully completed the GTT qualification process in record time, as the first validation steps began in March 2022.
Yangzijiang has already secured an order for four 8,000 TEU dual-fuelled container ships from Pacific International Lines (“PIL”), a leading shipping line in Asia. The container vessels feature GTT’s Membrane technology for the LNG fuel tanks. Each LNG fuel tank will be fitted with the Mark III membrane containment technology and include unique features to facilitate a potential conversion of these vessels to ammonia-fuel, giving the owner a greater operational flexibility should environmental regulations change.
The delivery of the four vessels is scheduled for each quarter of 2025.
Established in 1956, Yangzijiang Shipbuilding (Holdings) Ltd. is one of the largest private shipbuilding companies in China. The Group is listed on SGX Mainboard since April 2007 and is currently one of the Straits Times Index (“STI”) constituent stocks. With four shipyards in Jiangsu Province, China along the Yangtze River, the Group produces a broad range of commercial vessels including medium to large containerships, bulk carriers and LNG carriers, serving the orders from a well-established customer network covering Northern America, Europe and other parts of the world. Since listing on SGX, it has delivered consistent growth in the past fifteen years.
