Last week, the UP World LNG Shipping Index (UPI) lost 3.48 points or 2.15%, closing at 158.67 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 0.32%, says an article published on lng shipping stocks website.
Summary
- Last week, the UP World LNG Shipping Index (UPI), which tracks the performance of LNG shipping companies, lost 3.48 points or 2.15%, closing at 158.67 points. In contrast, the S&P 500 (SPX) index, representing U.S. stocks, recorded a gain of 0.32%.
- Despite the correction in the final trading week, the UPI concluded the year with an overall gain of 6.85%.
- Among the decliners, “K” Line (TSE: 9107) experienced the most significant decline, losing 8.6%. Other decliners included NYK Line (TSE: 9101) and MOL (TSE: 9104) with declines around 4%, while Excelerate Energy (NASDAQ: EE), Flex LNG (NYSE/OSE: FLNG), and Exmar NV (BSE: EXM) saw losses of 3.9%, 3.4%, and 2.7%, respectively.
- On the positive side, Capital Product Partners (NASDAQ: CPLP) emerged as the top gainer with a 3.6% increase. Nakilat (QSE: QGTS) and Awilco LNG (OSE: ALNG) followed with slight gains above 2%. Korea Line Corporation (KRX: 005880) saw a gain of 1.2% in the last week.
Overview Of Performance Indices
Last week witnessed a minor correction in LNG shipping stocks, as reflected in the UP World LNG Shipping Index (UPI), which lost 3.48 points or 2.15%, closing at 158.67 points. This index monitors the performance of LNG shipping companies globally. In contrast, the S&P 500 (SPX) index, representing U.S. stocks, recorded a gain of 0.32%.
Year-End Recap And Corrections
The UPI, despite the correction in the final trading week, concluded the year with an overall gain of 6.85%. The last trading week of the year was relatively stable, with notable exceptions like the Japanese trio, which exceeded the average due to significant gains in the preceding week.
Decliners And Minor Corrections
Among the decliners, “K” Line (TSE: 9107) experienced the most significant decline, losing 8.6%. However, this was considered a minor correction compared to its impressive gain of over 28% the previous week. Other decliners included NYK Line (TSE: 9101) and MOL (TSE: 9104) with declines around 4%, while Excelerate Energy (NASDAQ: EE), Flex LNG (NYSE/OSE: FLNG), and Exmar NV (BSE: EXM) saw losses of 3.9%, 3.4%, and 2.7%, respectively. Dynagas LNG Partners (NYSE: DLNG), Chevron (NYSE: CVX), and Golar LNG (NASDAQ: GLNG) also experienced declines of 1.8%, 1.3%, and 1.3%, respectively.
Gainers Amid Corrections
On the positive side, Capital Product Partners (NASDAQ: CPLP) emerged as the top gainer with a 3.6% increase. Nakilat (QSE: QGTS) and Awilco LNG (OSE: ALNG) followed with slight gains above 2%. Korea Line Corporation (KRX: 005880) saw a gain of 1.2% in the last week.
Future Outlook
In summary, the final trading week of the year brought about a minor correction following previous gains. The UPI closed the year above the previous resistance level, now acting as a support line. The LNG shipping sector’s performance continues to be influenced by various factors, and the corrections observed highlight the dynamic nature of this market.
The UP World LNG Shipping Index remains a valuable tool for investors seeking insights into the performance of companies involved in the maritime transport of liquefied natural gas.
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Source: lng shipping stocks
