Last week, the UP World LNG Shipping Index (UPI), which tracks the performance of LNG shipping companies, lost 1.57 points or 1.06%, closing at 146.97 points.
However, the S&P 500 (SPX) index, representing US stocks, experienced a gain of 0.82%.
For the third consecutive week, the UPI has declined. While many stocks remain above the support ledges, some have returned to the support area. Golar LNG lost 1.6%, while SPX rose last week, which could support the LNG shipping stocks to move higher.
Avoiding the danger of an Australian strike will also help calm stocks. The winter season is approaching, and LNGC spot rates are rising.
Excelerate Energy lost the most at 6.2%, followed by Cool Company, which declined by 4.4%. Awilco LNG suffered the same loss as Cool.
EXMAR lost 3.5%, but this was based on the reopening of the takeover bid by Saverex. Korea Line Corp lost nearly 3%, which started a new trend.
The Japanese trio – NYK Line, Mitsui OSK Lines (MOL), and “K” line – remained close to the highs after a previous one-week decline. NYK Line gained 2.2%, MOL grew by 0.9%, and “K” line lost 0.3%.
Established in 2020, UPI is a rules-based stock index family designed to show and measure the performance of worldwide publicly traded companies involved in the maritime transport of LNG.
This index covers 18 companies and partnerships worldwide and over 65% of the world’s LNGC fleet.
