The surge in vessel rates followed Qatar’s shutdown of LNG production as the conflict with Iran began to spill across the wider region. (Dwayne Senior/Bloomberg)
March 3, 2026 7:30 AM, EST
Shipowners and brokers are demanding more than $200,000 a day for liquefied natural gas tankers in the Atlantic Basin, roughly double what they were commanding less than a day earlier, according to people familiar with the matter.
The surge in vessel rates followed Qatar’s shutdown of LNG production as the conflict with Iran began to spill across the wider region. No transactions were known to have been booked at the latest offer rates, said the people, who could not be identified because the information was confidential.
Those offer levels were at least three times higher than the last assessed price for an LNG tanker by shipping firm Spark Commodities, which was $61,500 earlier March 2.
Transacted shipping rates — actual deals to lease vessels — are unlikely to soar unless production cuts are prolonged in places like Qatar and Abu Dhabi, said Richard Pratt, a consultant with Precision LNG Consulting. The extra distance required to sail ships from the U.S. to Asia could also play a role, he noted.
