Last week, the UP World LNG Shipping Index (UPI) lost 3.90 points or 2.56%, closing at 148.37 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 0.48%. You can find both indices in the image below.

Week 41-2023: Chart of the UP World LNG Shipping Index with S&P 500 (Source:
Week 41-2023: Chart of the UP World LNG Shipping Index with S&P 500 (Source:

Last week, the stock market experienced a decline in the first three days, including for LNG shippers. However, the last two days showed a positive trend that partly mitigated the decline. Unfortunately, the week ended with UPI dropping by 2.56%. Nevertheless, UPI closed above the previous low at 147 points and may make a new higher low, continuing in 1-2-3 technical formation as a higher high was already made. However, the recent attack on Israel last Saturday has increased the vulnerability of stock markets.

New Fortress Energy (NASDAQ: NFE) lost 8.4%, but this was still better compared to the maximum loss the company experienced during the week. NFE closed at $30.04, which was just a few cents below the open price of the previous week. Excelerate Energy (NASDAQ: EE) marked the same loss as NFE, declining for the third consecutive week. Golar LNG (NASDAQ: GLNG) suffered the third most significant loss, falling by 6.1%, while Awilco LNG (OSE: ALNG) lost 5.3%.

Three other companies also experienced losses of around 3.7%, which were even more significant during the week. Cool Company (NYSE / OSE: CLCO) declined by 4% in Oslo but 6.5% in New York. Chevron (NYSE: CVX) and Exmar (BSE: EXM) both lost 3.8%, BP (NYSE: BP) declined by 3.7%, and Flex LNG (NYSE / OSE: FLNG) lost 3.5%.

However, a significant increase was recorded by the Japanese “K” line (TSE: 9107), which gained 6.7%. NYK Line (TSE: 9101) followed with a rise of 1.7%.

Summary: UPI declined, but a chance of making a new all-time high persists.

About: UP World LNG Shipping Index, established in 2020, 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 liquefied natural gas (LNG). This unique index covers 18 companies and partnerships worldwide, like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers over 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer freemium (the basic chart of the UP Index and S&P 500 index) and trial access to all charts.

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