GTT Not Informed of FTC Investigation

French marine engineering company Gaztransport et Technigaz SA (GTT) has not been notified of an inquiry into its commercial practices reportedly launched by the Korean Fair Trade Commission, the company said in a comment to market rumors.

Korean media said that GTT was being investigated by the Commission for “unfair” commercial practices with its Korean shipbuilding partners which are believed to in breach of fair trade laws.

As disclosed by the Korea Economic Daily, citing shipbuilding sources, the investigation concerns contracts from late last year signed with the country’s major shipbuilders including Daewoo Shipbuilding & Marine Engineering (DSME), Samsung Heavy Industries (SHI), and Hyundai Heavy Industries (HHI), major builders of the world’s LNG fleet.

Namely, GTT, which holds 90 percent of the world’s LNG storage tank market, is suspected of having abused its market position to charge unfair prices for its patented technology.

World Maritime News Staff


Share this article

Follow World Maritime News

In Depth>


<< Jan 2020 >>
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >


Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >