🌊 Historic Surge in LNG Shipping Rates as Qatar Halts Production

✅ Daily LNG freight rates are soaring: –

Atlantic: $61,500/day (+43%)
Pacific: $41,000/day (+45%)

👉 Global LNG experts warn spot rates could surpass $100,000/day this week as vessel availability tightens and competition intensifies.

⚓ Why It Matters: –

👉 Cargo backlogs from February weather
👉 Until safe passage through the Strait of Hormuz is assured, many vessels remain idle, further constraining supply
👉 The difficulty in assessing Gulf shipping rates is evident, as several shipowners have suspended operations indefinitely.

⛴️ Industry Ripple Effects: –

👉 Bunker costs jump at Fujairah
👉 Demand shifts to alternative ports like Singapore
👉 Shipping firms, including Hyundai Glovis, activating contingency routes.