Last week, the UP World LNG Shipping Index (UPI) stayed at the previous level, gaining 3.79 points or 2.62%, closing at 148.50 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 2.49%.
LNG shipping stocks experience a decline
LNG shipping stocks experienced a decline until the Fed announcement when they joined the rest of the markets and rose. The chart indicates that UPI has been moving within a range of more than a year. UPI is expected to start a new trend soon. However, UPI’s rise was due to almost no declines, so the mild gains that prevailed were enough.
Japanese Mitsui O.S.K. Lines (TSE: 9104) gained nearly 6%, making the most gains. Exmar NV (BSE: EXM) gained 4.2%, while Chevron (NYSE: CVX) and Korea Line Corporation (KRX: 005880) moved up by 3.5%. The other gains were approximately 1-2%, which is not enough to break the resistance. Of course, increasing geopolitical dangers in the Strait of Hormuz and the drying Panama Canal hardened the sail. Closing the Suez Canal will mostly affect Qatar´s LNG export to Europe, so this might lower the risk of attacks on LNG carriers.
Dynagas LNG Partners (NYSE: DLNG) experienced the most significant loss, dropping by 4.3%. Excelerate Energy (NASDAQ: EE) declined by 2%.
In summary, the mild gains have stopped the decline, but we need more optimism and more significant gains for a new upward trend.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: LNG Shipping Stocks
Fully resonate with the sentiments shared above – this post is a gem!
Your positivity is a beacon of light in a world that can sometimes feel dark. Thank you.
Your positivity is a beacon of light in a world that can sometimes feel dark. Thank you.
Grateful for the wisdom, mandatory reading.
Attractive section of content. I just stumbled upon your blog and in accession capital to assert that I get actually enjoyed account your blog posts. Anyway I will be subscribing to your augment and even I achievement you access consistently fast.
With a focus on excellence, Elitepipe Plastic Factory has gained a reputation for producing top-notch HDPE and uPVC products that meet rigorous quality standards. Elitepipe Plastic Factory
يمكن للعملاء الاعتماد على الخبرة الفنية لمصنع إيليت بايب Elite Pipeودعم العملاء المخصص لمساعدتهم في اختيار التركيبات الأنسب لاحتياجاتهم الخاصة.