The UP World LNG Shipping Index (UPI) fell by 1.24 points, or 0.76%, last week, closing at 152.38 points. This index tracks the stocks of companies specializing in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.03%. Despite the UPI’s decline, it remains near its all-time high with an overall uptrend. The number of decliners outpaced gainers, with most movements being mild. Some trends continued while others did not.
Continuing Trends
After seven weeks of fluctuations, CPLP saw an 8.1% increase, the most significant rise last week.
Cool Company (NYSE/OSE: CLCO) gained 3.7%, continuing a three-week uptrend.
Malaysian MISC (KLSE: 3816) started its uptrend at the beginning of the year and added 1.1% last week.
Despite a 0.3% loss, DLNG formed a bullish hammer candle-chart formation, avoiding a more significant decline.
New Downtrends
New Fortress Energy (NASDAQ: NFE) began a new wave of decline after three weeks of hesitation, dropping by 6%.
BP (NYSE: BP) lost 2.1% last week, marking its fourth consecutive week of losses, indicating a potential downtrend.
Minor Movements and Pauses
Most constituents showed minimal movements or slight corrections:
– Nakilat (QSE: QGTS)
– Golar LNG (NASDAQ: GLNG)
– Flex LNG (NYSE/OSE: FLNG)
– Mitsui O.S.K. Lines (TSE: 9104)
– “K” Line (TSE: 9107): Gained 0.7%
– NYK Line (TSE: 9101): Lost 0.7%
– Excelerate Energy (NASDAQ: EE): Experienced the most significant loss of 8%, which may be a correction despite the substantial loss and low traded volume.
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Source: UP-Indices.com
