GTT and HD Hyundai Heavy Industries Launch Joint Development Project for Next-Generation 102,000 m³ VLEC

GTT and HD Hyundai Heavy Industries Launch Joint Development Project for Next-Generation 102,000 m³ VLEC

(IN BRIEF) GTT and HD Hyundai Heavy Industries have launched a Joint Development Project to design a 102,000 m³ Very Large Ethane Carrier using GTT’s Mark III Slim™ membrane containment system, with the goal of better integrating cargo tanks with hull architecture to improve overall vessel performance. The project will focus on optimizing hull geometry and hydrodynamics to reduce fuel consumption and lower CO₂ emissions per ton of ethane transported, while also increasing cargo capacity enabled by the more compact and lightweight Mark III Slim™ design. Leaders from both companies emphasized that the collaboration reflects their shared commitment to innovation and the development of more energy-efficient ships in response to growing market and environmental pressures.

(PRESS RELEASE) PARIS, 5-Feb-2026 — /EuropaWire/ —  GTT has formalized a Joint Development Project (JDP) with HD Hyundai Heavy Industries to advance the design of a 102,000 m³ Very Large Ethane Carrier (VLEC), incorporating GTT’s Mark III Slim™ membrane containment system. The collaboration is aimed at achieving a more integrated approach between cargo containment and hull design, ultimately improving vessel performance, energy efficiency, and environmental impact.

The project focuses on optimizing how GTT’s membrane technology is integrated into the ship’s structure, allowing for refinements in hull geometry that enhance hydrodynamic performance. By aligning the containment system with naval architecture considerations from the outset, the partners intend to create a more efficient vessel that reduces fuel consumption and lowers CO₂ emissions per ton of ethane transported.

GTT’s Mark III Slim™ system has been specifically developed for ethane transport and is characterized by a more compact design compared to previous generations. It utilizes a thinner membrane, simplified anchoring mechanisms, and lighter panels and caissons, which collectively reduce overall weight and space requirements. These features provide greater flexibility in ship design and support further innovation in hull optimization.

As part of the JDP, the two companies will work closely to refine the VLEC’s hull form, leveraging the advantages of the Mark III Slim™ technology to maximize cargo capacity while minimizing resistance and energy use. This integrated approach is expected to deliver measurable efficiency gains for future ethane carriers.

François Michel, CEO of GTT, highlighted the company’s long-standing commitment to technological innovation in liquefied gas transport. He stated that the partnership with HD Hyundai Heavy Industries reinforces GTT’s objective of supporting the development of more efficient vessels that meet the evolving technical, economic, and environmental demands of the maritime sector.

Dong Jin Lee, Executive Vice President of HD Hyundai Heavy Industries, emphasized the strategic importance of collaboration as the global ethane market continues to expand. He noted that combining HD Hyundai’s shipbuilding expertise with GTT’s advanced membrane solutions will strengthen their ability to deliver next-generation VLECs that offer improved energy efficiency and performance for ship owners and operators.

About GTT

GTT is a technology and engineering group with expertise in the design and development of cryogenic membrane containment systems for use in the transport and storage of liquefied gases. Over the past 60 years, the GTT Group has designed and developed, to the highest standards of excellence, some of the most innovative technologies used in LNG carriers, floating terminals, onshore storage tanks and multi-gas carriers. As part of its commitment to building a sustainable world, GTT develops new solutions designed to support ship-owners and energy providers in their journey towards a decarbonised future. As such, the Group offers systems designed to enable commercial vessels to use LNG as fuel, develops cutting-edge digital solutions to enhance vessels’ economic and environmental performance, and actively pursues innovation in the field of low-carbon solutions.

GTT is listed on Euronext Paris, Compartment A (ISIN FR0011726835 Euronext Paris: GTT) and is notably included in the CAC Next 20, SBF 120, Stoxx Europe 600 and MSCI Small Cap indices.

For more information, visit www.gtt.fr

Media Contact:

Investor relations : information-financiere@gtt.fr / +33 (0)1 30 23 20 87 / +33 (0)1 30 23 42 64

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SOURCE: GTT