European natural gas futures have surged 60% in two days to above €56/MWh — a three-year high — driven by the shutdown of Qatar's LNG export facilities and the closure of the Strait of Hormuz. LNG tanker availability on Middle East–Europe corridors is critically disrupted, with immediate implications for spot charter rates and fuel cost exposure across all vessel classes. Logistics operators and energy shippers should treat this as a force majeure-level event requiring urgent supply chain review.
Rate Direction
Rates up +60.00%
Time Horizon
immediate
Confidence
72%
Routes Affected
Strait of Hormuz / Persian Gulf / Indian Ocean / Suez Canal / Red Sea / Cape of Good Hope / Mediterranean
Ports / Terminals
Ras Laffan / Fujairah / Jebel Ali / Bandar Abbas / Salalah / Port Said
Carriers
QatarEnergy / Shell / TotalEnergies / Nakilat / MSC / Maersk / CMA CGM / Hapag-Lloyd
Source
https://www.hellenicshippingnews.com/eu-natural-gas-extends-rally/published 04 Mar 2026, 11:00 UTC