The UP World LNG Shipping Index gained 4.05% last week, closing at 182.36 points and exceeding the 180-point mark for the first time in its history. The S&P 500 rose 0.3% over the same period.
Trading activity was robust, with volume well above average and a 15:4 ratio of rising to falling stocks. Several companies broke through resistance levels on strong volume, led by COSCO Shipping Energy Transportation (+10.6%) and Chevron (+6.1%). Shell, BP, Tsakos Energy Navigation, and Nakilat all moved above their respective resistance levels.
Atlantic spot charter rates continued declining to $11,000 per day. Freezing weather in Europe is increasing gas consumption, with suppliers drawing from storage facilities currently at around 42% capacity.
New Fortress Energy fell 23.56%, leading decliners amid ongoing restructuring. Dynagas LNG Partners dropped 6.2%, and Awilco LNG fell 4.7%.
UP Forum’s long-term outlook remains positive, supported by steam vessel scrapping and new liquefaction capacity.
Established in 2020, the UP World LNG Shipping Index is a rules-based stock index family designed to measure the performance of publicly traded companies worldwide involved in the maritime transportation of liquefied natural gas (LNG). This unique index covers 21 companies and partnerships worldwide, representing over 65% of the world’s LNG carrier fleet in 2020.