UP World LNG Shipping Index Ends 2025 With Tentative Recovery as Rates Continue to Ease

• The UP World LNG Shipping Index rose 2.17% in Week 52-2025, closing at 163.52 points.

• Despite the weekly rebound, the index finished 2025 down 3.43% after prolonged sideways trading.

• Spot LNG charter rates continued to soften, falling to $80,000 per day.

• Holiday-thinned trading volumes limited conviction across most listed LNG shipping stocks.

According to the UP World LNG Shipping Index Weekly Report (Week 52-2025), the final week of the year delivered a modest rebound for listed LNG shipping companies, with the index recovering above support levels amid generally calm market conditions and reduced year-end liquidity.

Index Performance and Market Context

The UP World LNG Shipping Index (UPI), which tracks publicly listed LNG shipping companies, gained 3.48 points, or 2.17%, week-on-week to close at 163.52 points. Over the same period, the S&P 500 advanced by 1.4%. The recovery followed a breach of support levels in the previous week and was broad-based, with 15 constituents posting gains and six recording declines. Median weekly movement stood at +1.55%.

Despite the late recovery, UPI closed the year with an annual decline of 3.43%. Throughout 2025, the index largely traded sideways near support levels, a pattern that remains intact as the market enters 2026. Trading volumes were below average due to the holiday period, limiting the strength of the upward move.

Spot LNG charter rates continued their downward trend, easing to $80,000 per day, according to Spark Commodities.

Leading Movers

Gains during the week were led by Excelerate Energy, which rose 4.15%, followed by ADNOC L&S, up 3.17%. Both stocks remain within established sideways trading ranges.

Asian-listed companies generally recorded positive performances. MISC gained 2.2% but remained below resistance within its range. The Japanese trio posted similar advances, with NYK Line and Mitsui O.S.K. Lines each strengthening by 2.6%, while “K” Line rose 2.7%, also within a sideways pattern.

Capital Clean Energy Carriers edged higher by 1.7%, moving back into positive territory. The price action indicated resistance to further downside, with the stock positioned at the upper edge of its prior range.

Nakilat rebounded by 2.6% after closing below support in the previous week. However, trading volumes were low, and price movements during the week reflected uncertainty in both directions. Chevron also remained near support, gaining 1.5% over the week after several weeks of sideways movement.

Decliners and Rate Pressure

On the downside, New Fortress Energy recorded the largest weekly fall, declining by 3.31%. Korea Line Corporation followed with a 3.19% drop, though this movement remained within a low-volume sideways range. Golar LNG eased by 2.73%, while Flex LNG declined 2.5%, moving closer to support levels.

Overall, average constituent growth remained below 2%, underscoring the subdued nature of trading during the final full week of the year.

Outlook and Market Signals

The report noted that the late-summer rally in UPI was rejected, with the index returning to its previous trading range, where it currently sits close to support. While short-term volatility among constituents is expected to increase, no clear trend change was evident by year-end.

The long-term outlook remains positive, supported by expectations of rising spot rates, the scrapping of steam-powered vessels, and additional liquefaction capacity coming online. However, if the current sideways behavior persists through the first quarter or upcoming earnings releases, it could signal a shift in the longer-term trend.

About the UP World LNG Shipping Index

Established in 2020, the UP World LNG Shipping Index is a rules-based stock index designed to measure the performance of publicly traded companies involved in the maritime transportation of liquefied natural gas. The index covers 21 companies worldwide, representing more than 65% of the global LNG carrier fleet as of 2020.

The report is primarily based on technical analysis using weekly data.