Last week, there was a slight increase in the UP World LNG Shipping Index (UPI), the only stock index in the world that focuses on LNG shipping companies. It gained 1.88 points or 1.33%, reaching 143.18. However, it failed to reach its previous range despite some companies generating profits. In comparison, the S&P 500 (SPX) index, representing U.S. stocks, gained 2.35%. You can find both indices in the image below.

Week 27-2023: Chart of the UP World LNG Shipping Index with S&P 500 (Source:

Among the constituents of the UPI, Japan’s trio of LNG shipping companies marked the biggest gain, with “K” line (TSE: 9107) leading the way with a 9.2% performance. NYK line (TSE: 9101) and MOL (TSE: 9104) also rose by 4.9% and 4.1%, respectively, while Korea Line Corporation (KRX: 005880) gained 1.5%. MOL announced two new contracts for LNG carriers with UK´s Ineos for Germany´s contract.

In the US, LNG shipping companies that previously recorded a decline showed improvement, with many stocks moving up and only a few losing. Chevron (NYSE: CVX) recorded the most significant gain at 4%, while the average gain of US-listed LNG shipping stocks was 1.5%. This group involves Shell (NYSE: SHEL), Flex LNG (NYSE/OSE: FLNG), Excelerate Energy (NASDAQ: EE), and bp (NYSE: bp).

Cool Company (NYSE/OSE: CLCO) experienced different gains on both listings, with 5.4% on NYSE and 0.5% on OSE. CoolCo exercised both options to buy LNG carriers from its largest shareholder Eastern Pacific Shipping. These vessels are set to deliver in the second half of 2024. Additionally, CoolCo received approval from a syndicate of existing lenders to increase the debt amount of $70 million, which will fund the LNG conversion of five vessels, including retrofits with sub-coolers for LNG boil-off reliquefaction under the recently announced contract with HD Hyundai Global Service.

However, New Fortress Energy experienced a decline, losing 2.4% and is close to the support line at around $25.4. Dynagas LNG Partners (NYSE: DLNG), Golar LNG (NASDAQ: GLNG), and Capital Product Partners (NYSE: CPLP) also lost approximately 0.5%, while Qatar Gas Transport Company (QSE: QGTS) lost 2%. Despite the exhausting week for LNG shipping companies, there was still a rise.

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 19 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.