BAKU, Azerbaijan, July 20. In June 2025, global LNG exports included 504 cargoes, eight fewer than the same month last year and down 3% from May, the Gas Exporting Countries Forum (GECF) says, Trend reports.
However, cargo volumes for the first half of 2025 rose slightly to 3,190 shipments, 13 more than in the same period of 2024.
GECF member countries accounted for 46% of shipments, with Qatar, Malaysia, and Russia leading. The United States saw the largest increase, loading 102 more cargoes year-on-year, followed by Qatar with 25 additional shipments. Congo and Angola also recorded notable percentage gains.
Despite the steady cargo volumes, the LNG shipping market remains subdued. June saw a sharp 210% month-on-month jump in average spot charter rates for steam turbine LNG carriers to $3,100 per day. Still, this rate is 90% below June 2024 levels and far below the five-year average.
Rising geopolitical tensions in the Middle East, particularly concerns over the Strait of Hormuz, alongside tighter vessel availability in the Atlantic Basin and increased LNG demand in Europe and Egypt, contributed to higher charter rates. Similar increases were recorded for other vessel types, including TFDE and two-stroke carriers.
Fuel prices for shipping rose 8% month-on-month to $520 per tonne but remained below last year’s and the five-year averages. Higher delivered spot LNG prices in June led to increased shipping costs on key routes, though overall LNG shipping expenses were still lower than in June 2024 by up to $0.54/MMBtu.
