Qatar has gathered a fleet of empty liquefied gas tankers in the Persian Gulf, an indication that one of the largest exporters of this fuel may be preparing to increase its shipments through the Strait of Hormuz.

Based on Bloomberg’s review of satellite images and ship-tracking data, at least 12 empty liquefied gas vessels belonging to QatarEnergy or chartered by it are waiting in waters near the country. Together, these ships have a capacity of about 1.1 million tons of liquefied gas, which is close to 2% of the total capacity of the global tanker fleet.

It is not guaranteed that these vessels will pass through the Strait of Hormuz after loading, especially as attacks by the Islamic Republic on ships have intensified.

Liquefied gas transit through the Strait of Hormuz reached its highest level since the start of the war in Shahrivar, but it still remains about 75% lower than in Bahman and before the U.S. and Israeli attacks on the Islamic Republic.

The sea freight rate for liquefied gas has also returned to pre-war levels. Based on Spark Commodities data, the shipping rate in the Atlantic Ocean on Tuesday was $25,750 per day, compared with a record of $287,500 per day in early Esfand.