Last week, the UP World LNG Shipping Index (UPI) stayed at the previous level, losing 3.36 points or 2.27%, closing at 144.70 points, says an article published on lng shipping stock website.
Performance Overview
Last week, the UP World LNG Shipping Index (UPI) closed at 144.70 points, indicating a loss of 2.27%. In contrast, the S&P 500 (SPX) experienced a 0.21% gain during the same period.
Index Trends
The UPI continues to move within a sideways range, maintaining low levels. This trend has impacted most of the index constituents.
Winners And Losers
Dynagas LNG Partners (DLNG) emerged as the top gainer, recording a 3.7% increase after its earnings call. However, the index saw losses, with Excelerate Energy leading the decline by 7%, followed by Cool Company (CLCO) dropping by 6.6%, and Kawasaki Kisen Kaisha down by 5.3%. New Fortress Energy (NFE) also experienced a 4.6% decrease.
Market Sentiment And Future Outlook
The LNG shipping sector is currently facing a negative wave, impacting various stocks. The UPI’s sideways movement suggests a key level at 140 points, indicating a cautious market sentiment. The upcoming events, such as Dynagas’ debt payment and potential refinancing, will likely influence the future direction of the sector.
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Source: Lng shipping stock
