Qatar Loads 25 More LNG Cargoes Between January and June Compared to Same Period in 2024: GECF

Qatar loaded 25 more LNG cargoes between January and June this year compared to the same period in 2024, according to GECF data.

Between January and June, the US loaded 102 more cargoes than in the same period in 2024, Gas Exporting Countries Forum said in its recent monthly report.

Congo, Angola and the US recorded the largest percentage increases during this period.

In June 2025, there were 504 LNG cargoes exported globally, which was eight fewer compared to one year ago, as well as a decrease of 3% m-o-m.

During the first half of the year, some 3,190 cargoes were exported, which was 13 more than during the same period in 2024.

GECF countries accounted for 46% of shipments (so far) in 2025, led by Qatar, Malaysia and Russia, the report said.

The LNG shipping market continues to be “depressed”, although charter rates have been on the “rise” in recent months.

In June, the monthly average spot charter rate for steam turbine LNG carriers globally increased by 210% m-o-m to reach $3,100 per day.

However, this average charter rate was still 90% less than one year ago, as well as $31,700 per day lower than the five-year average price for the month.

Notably, spot charter rate assessments for steam turbine LNG carriers in the Atlantic Basin regained momentum during the month, after recording assessments of $0 per day since February 2025.

Charter rates for the other segments of the LNG carrier fleet also recorded increases during the month. The average spot charter rate for TFDE vessels reached $17,700 per day, which was an increase of 34% m-o-m, but still 61% lower y-o-y. The average spot charter rate for two-stroke vessels rose by 21% m-o-m to $32,200 per day, which was 47% lower than one year ago.

For the first half of June, the charter market remained at similar levels to the end of the previous month.

However, the escalation of tensions in the Middle East, particularly the perceived threat of closure of the Strait of Hormuz, was a key contributor to the jump in charter rates thereafter.

This was reinforced by tightening vessel availability in the Atlantic Basin, due to demand for storage injections in Europe, as well as Egypt increasing the number of LNG cargo imports while purchasing these shipments earlier than expected.

The average price of shipping fuels in June increased by 8% m-o-m, to reach an estimated $520 per tonne, GECF said.

However, this average price was 9% lower than one year ago, and 10% less than the five-year average price for this month.

Compared to the previous month, in June, the upticks in the average LNG carrier spot charter rate and in the cost of shipping fuels were also supported by an increase in the delivered spot LNG prices.

As a consequence, there was an increase in the LNG spot shipping costs for steam turbine carriers, by up to $0.16/MMBtu on certain routes.

Compared to one year ago, in June 2025, 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 $0.54/MMBtu lower than in June 2024, GECF noted.