- The UP World LNG Shipping Index (UPI) achieved a new all-time high.
- A gain of 13.66 points or 9.20%, closing at 162.15 points was reported.
The UP World LNG Shipping Index (UPI) achieved a new all-time high last week, with a gain of 13.66 points or 9.20%, closing at 162.15 points, reports LNG Shipping.
This index tracks the performance of companies involved in the maritime transportation of liquefied natural gas. On the other hand, the S&P 500 (SPX) index, which represents the performance of U.S. stocks, showed a modest increase of only 0.75%. You can refer to the image below to view both indices.
New All-Time Highs!
Aim, which took UPI one year, was done in a single week. So rapid was the break up through all resistances, which finished waiting in the range.
All shipping stocks were influenced by geopolitical tasks in the Red Sea. The danger of the closure of the Suez Canal, which would extend the sailing time, had a positive effect on shipping stocks. Even LNG shippers have not stayed away and are announcing a change of route. We considered this risk to be lower than it is.
The Japanese trio contributed the most to growth, but fortunately, it was not only them. While the week before the profits seemed low to us, luckily there were more growth stocks last week.
The most gained “K” line (TSE: 9107), which rose nearly by one-third in a single week. NYK Line (TSE: 9101) added 17.4%, and MOL (TSE: 9104) gained 12.3%.
The biggest UPI constituent, Nakilat (QSE: QGTS), added nearly 6% to the price of its shares, and Golar LNG (NASDAQ: GLNG) gained 9%. With nearly 6.1% gain of Cool Company (NYSE / OSE: CLCO), 5.6% of Dynagas LNG (NYSE: DLNG) and 3% of Flex LNG (NYSE / OSE: FLNG), the rise of UPI was safe. The only declining company was Exmar (BSE: EXM), which lost 2%.
In summary, the year-end rocket gain saved the year for UPI. It took four attempts to set the new high, and three of them were followed by support testing.
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Source: LNG Shipping
