UP World LNG Shipping Index (UPI) Declines As S&P 500 Also Sees Losses


The UP World LNG Shipping Index (UPI) lost 1.84 points or 1.19% last week, reaching a closing value of 152.82 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, lost 1.55%, reports LNG Shipping Stocks.

The analysis 

The UPI remained stagnant and fluctuated around the 2023 resistance level. Only a few constituents showed significant movement, with most moving around 1%.

Nakilat (QSE: QGTS) gained 1.6%, which helped offset the previous week’s losses, but trading holidays on the Qatar Stock Exchange limited its trading days.

The gas and oil drilling trio had mixed results, with Shell (NYSE: SHEL) and BP (NYSE: BP) rising by 1.6% and 2%, respectively, while Chevron (NYSE: CVX) declined by 1.6%.

The Japan trio remained stable, with only “K” Line (TSE: 9107) gaining 2.6%.

Dynagas LNG Partners (NYSE: DLNG) continued to rise slowly, gaining 1%.

Decliners outnumbered gainers, with New Fortress Energy (NASDAQ: NFE) and Capital Product Partners (NASDAQ: CPLP) losing over 4%. NFE remained in a downtrend, while CPLP dropped below the previous resistance.

Cool Company (NYSE/OSE: CLCO) declined by 2.2%, but its prices remained above the resistance level. It is difficult to predict its future movement.

Golar LNG (NASDAQ: GLNG) corrected its gains, but its growth should continue.

Overall, the UPI remained indecisive, and most of its constituents slid, with only a few showing a clear trend.

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Source: LNG Shipping Stocks