The UP World LNG Shipping Index (UPI), which tracks LNG shipping companies globally, rose 1.49% last week. This period was marked by varied performances among companies, influenced by third-quarter results and post-election developments in the U.S. Notably, New Fortress Energy led with a 13.6% gain after the Q3 earnings report, including bond refinancing news and progress in projects across Nicaragua, Puerto Rico, and Brazil. Excelerate Energy saw a 10% increase, backed by a significant dividend hike and fleet expansion plans. Although LNG shipping faces challenges like low spot rates, it remains critical to the global economy with several companies experiencing substantial gains, reports LNG Shipping Stocks.
UPI & SPX
Last week, UPI, which tracks listed LNG shipping companies, gained 2.41 points, equivalent to 1.49%, closing at 163.97 points. The S&P 500 index gained 4.66%. The chart below illustrates the performance of both indices with weekly data.
Broader view
Several companies saw gains last week, especially after the announcement of the US presidential election results. Asian, European and American companies grew. However, some continued to decline. However, upstream and downstream companies grew as they reported their third-quarter results. This highlights that the LNG shipping industry is temporarily declining due to low spot rates, but its importance to the global economy is growing.
Constituents
New Fortress Energy (NASDAQ: NFE) was the biggest gainer, up 13.6%. Its growth was even more significant during the week, but there was profit taking. It announced refinancing its near-term bonds with new ones that expire in 2029 but have significantly higher yields. Work is also progressing on upcoming projects in Nicaragua, Puerto Rico and Brazil.
Excelerate Energy (NASDAQ: EE) was up nearly ten per cent and reported a 140% dividend increase as part of its third-quarter results. It also announced interest in buying and converting a (probably steam) LNG tanker to an FSRU. But that’s not the only plan, as the construction of a new FSRU was previously announced to join the fleet in June 2026. However, a tanker transporting contracted LNG from Venture Global’s terminal to Bangladesh would also find use.
The third company in this group is Golar LNG (NASDAQ: GLNG), up 5.6%. The latter has not yet reported its results.
A relatively large group of companies grew by percentages, starting with number four. Dynagas LNG Partners (NYSE: DLNG) was the best, increasing by 4.7%. But Malaysia’s MISC (KLSE: 3816) wasn’t far behind, notching a 4.4% rise. Cool Company (NYSE/OSE: CLCO) was third, up four per cent. We can also include Japan’s “K” Line (TSE: 9107) in this group, one short of the four per cent mark.
Korea Line Corporation (KRX: 005880) and Chevron (NYSE: CVX) were also among the rising companies, with gains of 2.6 per cent and 2.5 per cent, respectively. Mitsui O.S.K. Lines (TSE: 9104) was up 1.7 per cent.
Awilco LNG (OSE: ALNG) was the biggest loser, continuing to be weighed down by low spot rates. Its price fell 4.7%. NYK Line (TSE: 9101) lost 3.8%, and Tsakos Energy Navigation (NYSE: TEN) fell 3%. Flex LNG (NYSE/OSE: FLNG) lost 1.7%, averting a more significant decline. This was undoubtedly aided by the news that the two ships—Flex Courageous and Flex Resolute—have prolonged charters by options exercise beyond 2029.
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Source: LNG Shipping Stocks
