LNG shipping in 2025: The year was quiet until ‘Winter’ arrived

The year started on a weak note: US–China tensions and evolving trade patterns added to the shipping woes Several downside risks, such as ample vessel availability, lower Asian demand (down 5% YoY), milder weather and trade uncertainties (caused by trade frictions, volatile tariffs and geopolitical hindrances), weighed on the positives in the form of higher European imports in 2025 (up 25% YoY), increased global supply (up 6% YoY) and record-breaking scrapping (up 88% YoY).