- LNG shipping index falls 2.3% due to market downturn. Some companies saw gains but overall sentiment remains positive.
- New Fortress Energy’s significant drop impacted the index.
The UP World LNG Shipping Index (UPI) experienced a decline of 2.30% last week, closing at 160.97 points. This downturn mirrors a broader global market slump, heavily influenced by a sharp decline in the Japanese market early in the week.
Market Impact
Despite the overall market volatility, some LNG shipping companies managed to post modest gains, indicating a degree of optimism within the sector. Capital Product Partners and Golar LNG were among the top performers, registering increases of 2.3% and 2.1%, respectively. However, the index was significantly impacted by the performance of New Fortress Energy, which plummeted over 24% due to internal challenges unrelated to broader market conditions.
Industry Outlook
The UPI tracks the performance of 18 publicly traded companies involved in LNG maritime transport. While the index experienced a setback this week, it remains a valuable indicator of the overall health of the LNG shipping industry.
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Source: LNG Shipping Stocks
