UP World LNG Shipping Index Sees Positive Growth Amid Moderate Gains

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  • The UP World LNG Shipping Index (UPI) increased by 3.68 points or 2.31% last week, closing at 152.38 points.
  • This index tracks the stocks of companies specializing in LNG shipping. 
  • In comparison, the S&P 500 (SPX) index, representing US stocks, gained 1.54%. 
  • The UPI’s rise brought it back to its highest level of the year, nearing all-time highs, with eleven constituents showing gains and only six experiencing slight declines, indicating positive sentiment in LNG shipping stocks.

Significant Movers

Last week saw no double-digit gains, with most increases being modest. However, Cool Company (NYSE/OSE: CLCO) and NYK Line (TSE: 9101) stood out, both rising above 5%. CLCO experienced a 7.5% gain after announcing a new contract for two new builds with Indian GAIL, starting in early 2025, making it the strongest performer among UPI constituents.

NYK Line (TSE: 9101) recorded a 6.1% increase, the second-largest gain. In contrast, other Japanese companies saw more modest gains, with MOL (TSE: 9104) up 1.9% and “K” Line (TSE: 9107) rising only 0.7%, confirming the upward trend for Japanese shippers.

Notable Increases and Decreases

Exmar NV (BSE: EXM), a smaller UPI constituent, saw a 4.4% increase following its Q1 results announcement.

Golar LNG (NASDAQ: GLNG) gained 3.9%, aiming for the $29 resistance level, confirming a break in resistance.

Flex LNG (NYSE/OSE: FLNG) rose 3.2% last week, staying just below the 2023 resistance level.

In contrast, Shell (NYSE: SHEL) fell 2.9% after reaching a new all-time high, retreating to the April range. Excelerate Energy (NASDAQ: EE) corrected its previous rise with a 2.2% loss. Chevron (NYSE: CVX) remained within its range below last summer’s prices, losing 1.9%. Other companies experienced minor declines of less than 1%.

Summary

Overall, the UPI continued its upward trend for the second consecutive week, with moderate growth this week and many companies confirming the trend.

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 transport of liquefied natural gas (LNG). It covers 18 companies and partnerships worldwide, including those in the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index represented over 65% of the world’s LNG carrier fleet in 2020. UP Index offers both freemium access (basic chart of the UP Index and S&P 500 index) and trial access to all charts.

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Source: UP-Indices.com