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Korea Fair Trade Commission fines GTT EUR 9.5 million over over competition law violation

KFTC notably requests GTT to allow Korean shipyards to perform all or part of the technical assistance services currently included in the technology license.
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6 years ago

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GTT

GTT (Gaztransport & Technigaz), an engineering firm specialising in containment systems with cryogenic membranes used to transport and store liquefied natural gas (LNG) on Wednesday (25 November) said the Korea Fair Trade Commission (KFTC) announced, in a press release, that it had reached a decision in its investigation regarding GTT’s commercial practices with the Korean shipyards in relation to the construction of LNG carriers. 

In its decision, the KFTC said it considers some of the GTT’s commercial practices have not complied with Korean competition regulations since 2016, and notably requests GTT allow Korean shipyards to perform all or part of the technical assistance services currently included in the technology license. 

This decision includes an administrative fine of approximately €9.5 million, noted GTT.

GTT emphasized that the licence of the technology and the technical assistance constitute an inseparable offering, which guarantees the integrity of its technologies, and that any separation could be detrimental to the entire LNG carrier industry. 

The company challenged the rationale of this decision and, upon receipt of the KFTC’s written decision, and said it intends to appeal against it, with a request for suspension of the decision, before the Seoul High Court. 

The company does not anticipate any significant financial or industrial impact in the short or mid-term. Depending on the conclusions of the appeal procedure, it will reassess the consequences on its activities.

“We are convinced that our commercial practices comply with the Korean competition rules and that the structuring of our offer, which has contributed for decades to the safe development of LNG maritime transport, makes it possible to provide our shipyard partners with ever more innovative, safe and efficient technologies, for the benefit of the entire industry,” saod Philippe Berterottière, Chairman and CEO of GTT.

Related: GTT: LNG as fuel segment orderbook at 17 units; royalty income up 12.1% on year in 9M 2020


Photo credit: GTT
Published: 26 November, 2020

 

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Winding up

Singapore: Liquidator of Nan Shan Maritime Pte Ltd issues notice of dividend

Third interim dividend to admitted unsecured claims of Nan Shan Maritime is payable from 15 July, according to Government Gazette notice.
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5 days ago

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July 16, 2026

By

RESIZED Drew Beamer

A notice of dividend for Nan Shan Maritime Pte Ltd, which is currently in creditors’ voluntary liquidation, was published on the Government Gazette on Wednesday (15 July). 

The following are the details of the notice:

Name of Company : Nan Shan Maritime (Pte.) Ltd.(In Creditors’ Voluntary Liquidation)
Unique Entity No. / Registration No. : 201701967H
Address of Registered Office : 10 Anson Road, #10-10, International Plaza, Singapore 079903
Amount per centum : 5.00 Per Centum of all admitted unsecured, claims
First and Final or Otherwise : Third Interim
When Payable : 15 July 2026
Where Payable : Entitlements will be made by way of cheque.

 

Photo credit: Drew Beamer
Published: 16 July, 2026

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Winding up

Singapore: Liquidator of Selco (Shipyard) Pte Limited issues notice of dividend

Fifth and final dividend to admitted creditors of Selco (Shipyard) is payable from 13 July, according to Government Gazette notice.
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1 week ago

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July 13, 2026

By

Resized benjamin child

A notice of dividend for Selco (Shipyard) Pte Limited, which is currently in compulsory liquidation, was published on the Government Gazette on Friday (10 July). 

The following are the details of the notice:

Name of Company : Selco (Shipyard) Pte Limited (In Compulsory Liquidation) Co. Reg. No. 196800580K
Address of Registered Office : 7 Straits View, Marina One East Tower, Level 12, Singapore 018936
Court : High Court of the Republic of Singapore
Number of Matter : Companies Winding Up No.: 125 of 1986
Amount per centum : 0.499 cents to a dollar
First and final or otherwise : Fifth and final dividend
When payable : From 13th day of July 2026
Where payable : c/o PricewaterhouseCoopers Advisory Services Pte Ltd, 7 Straits View, Marina One East Tower, Level 12, Singapore 018936

 

Photo credit: Benjamin Child
Published: 13 July, 2026

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Vessel Arrest

Malaysia: MMEA detains tugboat with undocumented 10,000 litres of diesel in Kuala Langat

Inspection found MYR 5,000 in cash on the vessel and 10,000 litres of diesel, of which the skipper failed to present any document or permit authorising the transport of the diesel fuel.

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1 week ago

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July 13, 2026

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Malaysia: MMEA detains tugboat with undocumented 10,000 litres of diesel in Kuala Langat

The Malaysian Maritime Enforcement Agency (MMEA) on Friday (10 July) said it detained a tugboat  during an enforcement operation in Selangor waters. 

Selangor MMEA director Captain Abdul Muhaimin Muhammad Salleh said the vessel was detained at about 6.35am at about 4.7 nautical miles 0.1 nautical miles from the estuary of Sungai Langat, Kuala Langat. 

He said the initial inspection found that the vessel in question was operated by a 44-year-old skipper along with a 23-year-old crew member, both Indonesian nationals. 

Further inspection found that the vessel did not have a mandatory insurance coverage, including the Limitation of Liability for Maritime Claims (LLMC).

“Inspection also found 10,000 litres of diesel and MYR 5,000 in cash on the vessel,” he said. 

“The skipper also failed to present any document or permit authorising the transport of the diesel fuel, raising suspicions regarding the ownership of the controlled items.”

The tugboat and both crew members were brought to the Pulau Indah Marine Police Force jetty before they were handed over to the Selangor MMEA for further action. 

He added that the case is being investigated under the Immigration Act 1959/63, the Control of Supplies Act 1961, and the Merchant Shipping Ordinance (MSO) 1952.

 

Photo credit: Malaysian Maritime Enforcement Agency
Published: 13 July, 2026

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