UPI: LNG Shipping Stocks Remain Volatile


Last week, the UP World LNG Shipping Index (UPI) gained 1.82 points or 1.24%, closing at 148.07 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 1%, reports LNG Shipping Stocks.

Despite most constituents experiencing mild week-to-week moves, the daily market was much more dynamic. The most gained “K” line (TSE: 9107), which rose by 8.5%. M.O.L (TSE: 9104) gained 5.1%, and NYK Line (TSE: 9101) strength by 4.2%. Two other gainers were New Fortress Energy (NASDAQ: NFE) and Korea Line Corporation (KSE: 005880) with gains of 2.1%, and Capital Product Partners (NASDAQ: CPLP) with Dynagas LNG Partners (NYSE: DLNG), which gained 1.5%. Cool Company (NYSE/OSE: CPLP) rose by 2.3% on NYSE but lost 0.6% on OSE.

Exmar (BSE: EXM) suffered the greatest loss, dropping by 4.8%. Nakilat (QSE: QGTS) declined by 3.3% and is now close to its lowest price in two years. MISC (KLSE: 3816), Golar LNG (NASDAQ: GLNG), and Excelerate Energy (NASDAQ: EE) all lost around 2.5%.
Despite the drillers – bp (NYSE: bp), Chevron (NYSE: CVX), and Shell (NYSE: SHEL) – closing with minimal gains, all three experienced significant drops in share price during the week, as did CoolCo and Golar LNG.

In conclusion, LNG shipping stocks remain volatile.

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Source: LNG Shipping Stocks