22 More Qatari LNG Shipments in 7 Months of 2025 Compared To Last-Year Period: GECF

Qatar has dispatched 22 more LNG cargoes in the first seven months (7M) until July of this year compared to the same period in 2024, according to the Gas Exporting Countries Forum.

In its latest report, the Doha-headquartered GECF noted during this period (7M), GECF countries accounted for 46% of shipments, led by Qatar, Malaysia and Russia.

At the end of the 7M-period this year, some 3,728 cargoes were exported, which is 44 more than during the same period in 2024.

Last month, there was a surge in shipping activity, with some 542 LNG cargoes exported globally. This figure was 35 more than a year ago and was also 8% greater m-o-m.

According to GECF, there was a slight recovery in LNG carrier charter rates during July of this year. Last month, the monthly average spot charter rate for steam turbine LNG carriers globally increased by 87% m-o-m to reach $5,800 per day.

Nevertheless, this average charter rate was still 84% less than one year ago, as well as $30,600 per day lower than the five-year average price for the month.

In addition, the charter rates for the other segments of the LNG carrier fleet also increased marginally during the month.

The average spot charter rate for TFDE vessels was recorded at $21,800 per day, which was an increase of 23% m-o-m, but still 63% lower y-o-y.

Similarly, the average spot charter rate for two-stroke vessels rose by 14% m-o-m to $36,600 per day, which remained 53% lower than one year ago.

Although the monthly average charter rates increased from June to July 2025, there was a general downward trend in daily charter rate assessments as the month progressed. The market weakness continues to be driven primarily by oversupply, with many of the less-efficient older vessels sitting idle.

Although there was a small incentive for floating storage around Europe, this was limited by the sale of German UGS capacity, which eroded the price spread.

Moreover, a closed inter-basin arbitrage for cargoes from the US Gulf to Asia also reduced demand, placing further downward pressure on charter rates.

In July, the average price of shipping fuels remained steady at an estimated $510 per tonne. This average price was 14% lower compared to one year ago, and was also 12% less than the five-year average price for this month.

During this month, the uptick in the average LNG carrier spot charter rate and the stability in the cost of shipping fuels were balanced by a decrease in the delivered spot LNG prices, GECF noted.

Consequently, there was an overall slight increase in the LNG spot shipping costs for steam turbine carriers, by up to just $0.02/MMBtu on certain routes.

Furthermore, compared to one year ago, in July, the monthly average spot charter rate and cost of shipping fuels were both lower, while the delivered spot LNG prices were higher.

As a result, LNG shipping costs were up to $0.67/MMBtu lower than in July 2024, the report noted.