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. UPI gained 6.48 points or 4.53%, reaching 149.67. In comparison, the S&P 500 (SPX) index, representing U.S. stocks, lost 1.16%. You can find both indices in the image below.
The UPI has recently experienced a significant surge in trading activity, largely fueled by the impressive performance of Golar LNG (NASDAQ: GLNG) and “K” line (TSE: 9107), both of which saw gains of over 10%. Other Japanese stocks, MOL (TSE: 9104) and NYK Line (TSE: 9101), also experienced above-average increases of 6.4% and 5.1%, respectively.
Exmar NV (BSE: EXM), Qatar Gas Transport Company – Nakilat (QSE: QGTS), Excelerate Energy (NASDAQ: EE), and New Fortress Energy (NASDAQ: NFE) saw gains of around 2-2.5%. Nakilat’s stocks reached new highs, while Excelerate Energy and New Fortress Energy showed potential for an uptrend.
Dynagas LNG (NYSE: DLNG) holds the $2.50 level and Flex LNG (NYSE/OSE: FLNG) maintained its price, refusing both buyers and sellers. bp (NYSE: BP) saw a slight decline of 0.1%. Cool Company (NYSE/OSE: CLCO) and Korea Line Corporation (KRX: 005880) experienced losses of 3.2%, but Cool Company shows promise for a continuation of its upward trend, while Korea Line Corporation has reached back its support area. Misc Bhd (KLSE: 3816) hit a new low since November 2022, with a loss of 2.4%.
Although many UPI constituents remained stagnant, some managed to break out of their ranges.
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.
Source: UP-Indices.com via LNGshippingstocks.com
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