GTT sets course for digital transformation and becomes the global leader in maritime performance.
Following the acquisition of the Danish company Danelec and its fleet of 17,000 connected vessels, the French firm GTT has reached a new scale.
Behind this nine-figure deal lies a clear objective: to become the key player in maritime performance management and accelerate the decarbonization of maritime transport.
GTT Confirms Acquisition of Danish Danelec for €194 Million
GTT (Gaztransport and Technigaz) has announced the acquisition of Danelec, a Danish company specializing in maritime data collection and analysis, for the modest sum of €194 million. This purchase will propel GTT to the top of the global market for ship performance management.
With this transaction, the group’s digital subsidiary takes a major step forward: 17,000 vessels will now be equipped with solutions from GTT through Danelec, Ascenz Marorka, and VPS. This technological ecosystem allows real-time monitoring of mechanical performance, fuel consumption, and environmental parameters.
Data, Safety, and Savings
Founded in 1995 in Farum, Denmark, Danelec initially established itself through its voyage data recorders (VDRs), known as the “black boxes” of the sea. These devices are mandatory on many ships and comply with strict standards from the International Maritime Organization and the SOLAS convention.
With 15% of the world fleet equipped with its VDRs, Danelec generates a significant portion of recurring revenue, providing GTT with valuable financial visibility. Additionally, the Danish company has expanded into safety and performance optimization software — a rapidly growing field in the context of CO₂ emission reductions.
Profitability Onboard from Year One: Good News for Shareholders
The acquisition, far from being just a “portfolio extension,” is based on strong financial fundamentals. In 2023/2024, Danelec posted revenues of €44 million with an EBIT margin of 25%, or €11 million.
According to GTT’s projections, the deal will have an immediate accretive effect on the group’s earnings per share. In other words, shareholders can expect a positive impact on their returns starting in 2025.
700 Highly Skilled Technicians Worldwide for Danelec
Danelec also boasts a global operational presence. The company employs 168 staff but relies heavily on an extensive network of over 700 certified technicians. This ensures rapid intervention across all continents, whether a ship is docked in Rotterdam or anchored off Singapore.
This technical capability is a strategic asset for GTT, strengthening its ability to provide high-value digital services with global, responsive customer support.
Maritime Performance Enters the Data Era
With Danelec integrated, GTT no longer just sells onboard LNG technologies. It effectively becomes the world leader in digital solutions capable of analyzing ship behavior at sea, detecting overconsumption, preventing mechanical failures, and reducing environmental impact.
Customers — shipowners, fleet managers, and charterers — gain a real-time decision support tool. The result: fewer breakdowns, less CO₂, lower fuel consumption, and greater competitiveness.
A Booming Market with a Clear Direction
Digitalization of maritime transport is one of the fastest-growing segments in the naval sector. Facing increasing demands for environmental traceability, emission reductions, and economic optimization, shipowners are looking for turnkey solutions.
GTT is seizing a rapidly expanding niche with strong prospects for continuous innovation. The deal is expected to close in the second half of 2025, pending regulatory approval. Ultimately, the group aims to model global maritime performance in real-time, ship by ship.
This ambition is far from fanciful when considering that 30% of annual VDR installations already bear the Danelec brand.
Are There Competitors to GTT in Maritime Transport Digitalization?
Globally, other companies offer similar solutions for fleet digitalization, energy performance optimization, predictive maintenance, and maritime data analysis:
- Wärtsilä (Finland): Digital platforms for fleet management, consumption optimization, and smart maintenance.
- Kongsberg Digital (Norway): Integrated solutions for monitoring, automation, and energy management of vessels.
- ABB Marine & Ports (Switzerland/Finland): Systems for monitoring, energy optimization, and remote maintenance in maritime sectors.
- DNV (Norway): Leading consultancy and software provider for operational performance and maritime safety, notably through its Veracity platform.
- Marorka (Iceland, now a GTT subsidiary via Ascenz Marorka): Specialized in energy performance optimization of ships, part of the GTT ecosystem.
In Asia, major shipyards such as Samsung Heavy Industries, Hyundai Heavy Industries, and Hudong-Zhonghua also develop their own onboard digital solutions, often in partnership with European or American tech firms.
Source: media24
