UPI Surges Reaching The New All-Time High Again

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Mfame Editor
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113

  • UPI surged by 3.18%, reaching a new all-time high.
  • FLNG observed a gain of 7.6%, nearing its resistance level.
  • The performance of LNG shipping companies in contrast to the S&P.

UPI surged by 3.18%, reaching a new all-time high of 163.72 points. The recent uptrend indicates a strong momentum, potentially driven by the winter season, reports LNG Shipping Stocks

Capital Product Partners LP (NASDAQ: CPLP)

CPLP soared by 13.4% following its shift towards LNG specialization and new vessel acquisitions.

Japanese Trio Impact

NYK Line (TSE: 9101), Mitsui O.S.K. Line (TSE: 9104), and “K” Line (TSE: 9107) collectively increased by around 9%, contributing to UPI’s rise.

Flex LNG (NYSE / OSE: FLNG)

FLNG observed a gain of 7.6%, nearing its resistance level, indicating a potential breakout for continued growth.

Other Gainers

Cool Company (NYSE / OSE: CLCO) and Dynagas LNG Partners (NYSE: DLNG) both gained 4.4%, with DLNG potentially attracting investors eyeing dividend renewal upon new information about refinancing.

Decliners

Excelerate Energy (NASDAQ: EE) faced a loss of 5.8%, reaching its lowest closing price since October 2023. New Fortress Energy (NASDAQ: NFE) declined by 3.6% after a corrective move within a recent uptrend.

Analysis and Insights

The impressive performance of LNG shipping companies in contrast to the S&P 500’s decline suggests a distinctive guide for growth within the LNG shipping sector. Despite speculation about the Fed’s rates and geopolitical tensions, the rise of LNG shipping stocks appears more connected to seasonal momentum, particularly driven by the winter season.

About the UP World LNG Shipping Index

Established in 2020, the UP Index monitors and measures the performance of publicly traded companies engaged in the maritime transport of liquefied natural gas (LNG). Covering 18 global entities across countries like the USA, Qatar, Japan, Norway, South Korea, and Malaysia, the index encapsulates over 65% of the world’s LNG carrier fleet, offering a unique insight into this sector’s dynamics. The index’s premium service provides freemium access and trial options for comprehensive chart analysis.

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Source: LNG Shipping Stocks

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