Qatar records 22 more LNG cargoes in first quarter than Q1, 2022: GECF

Qatar records 22 more LNG cargoes in first quarter than Q1, 2022: GECF

Qatar delivered 22 more cargoes in the first quarter of this year compared to the same period last year, the Gas Exporting Countries Forum (GECF) said in its April report.

In March, the total number of global LNG export cargoes increased by 8% m-o-m to 551. The total number of LNG shipments for the first three months of 2023 reached 1598, which is 3% (or 50 more cargoes) than during the same period in 2022.

The US, Australia, and Qatar lead the number of LNG shipments in 2023 thus far, Doha-headquartered GECF noted.

In March 2023, the LNG spot charter rate for steam turbine carriers averaged $38,800 per day, which was 12% higher month-on-month (m-o-m) and 50% higher year-on-year (y-o-y).

The spot charter rate in 2023 has generally been following the seasonal trend, hovering around the five-year average.

During the majority of March, charter rates held steady at the same levels as the end of February, until they declined during the final third of the month.

This, GECF noted that although the average monthly rate increased m-o-m, March concluded with the daily rate actually reaching the lowest level recorded since August 2022.

Charter rates softened at the end of the month as a result of reduced tightness