May 22, 2023: The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 2.79% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 1.63%. Both indices are in the picture below.

UP World LNG Shipping Index vs. SPX 21-23
Week 21-2023: UP World LNG Shipping Index with S&P 500 (Source:

UPI broke a support line during its decline last week; another decline is more probable now. On the other hand, many UPI´s components moved just around zero with no losses or gains. And many components are close to their support levels too. This fact weakens the down break.

New Fortress Energy (NASDAQ: NFE), a company that lost the most last week – 6.8% – is one of this group. Moreover, it had gone sideways since mid-March, when it stopped October´s decline.

Excelerate Energy (NASDAQ: EE) is in a very similar situation. Last week it lost 5.9% but still needs to set a downtrend.

Flex LNG (NYSE/OSE: FLNG) lost the same as Excelerate Energy after Q1 results but could hold the support line at $30. Its stock price has gone sideways since October 2021.

Two of three Japanese companies, namely NYK Line (TSE: 9101) and MOL (TSE: 9104), also stayed on the support line despite their decline. NYK lost 2.7%, and MOL declined by 1.7%. „K“ line (TSE: 9107) – the third one – lost 2.2% but stayed just below the resist line.

The biggest component of UPI is Qatars´s Nakilat (QSE: QGTS); it has a 20% stake, the maximum possible. Last week it bounced from the resist line and lost 1.2%. During the week, the price drop was a bit higher, but buyers were able to push the price higher.

Capital Product Partners (NASDAQ: CPLP) was the top gainer, which rose by 6.8%. This MLP was followed by Dynagas LNG Partners (NYSE: DLNG), which gained 5.8%.

UPI has broken the support level, but the decline has yet to be started.

About: UP World LNG Shipping Index, founded in 2020, is a rules-based stock index family designed to show and measure the performance of world 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.