Last week, the UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, experienced a 0.50% decline. In comparison, the S&P 500 (SPX) index, which represents U.S. stocks, had a 2.58% gain. You can view both indices in the image below.
The UPI showed a slight weakening after returning to its previous range, indicating the difficulty of this particular return. We anticipate that the UPI will remain stagnant for a while, gathering power for a potential breakout from its current range. However, the return has reduced the likelihood of a drop outside the range.
Regarding individual companies, most of them have remained close to their support levels. However, Cool Company (NYSE/OSE: CLCO) has set an uptrend and is closer to its resistance levels than support. Shell (NYSE: SHEL) and Awilco LNG (OSE: ALNG) have also seen gains of 3.3% and 2.7%, respectively.
Korea Line Corporation (KRX: 005880) has seen the most significant rise of 4.3%, while New Fortress Energy (NASDAQ: NFE) and Flex LNG (NYSE/OSE: FLNG) have both gained 2.6% and are currently moving within their ranges. NFE’s range is between $26 and $30, while Flex LNG’s range is between $30 and $36.
Dynagas LNG (NYSE: DLNG) has seen the biggest decline of all UPI’s components, losing 5.6%. Kawasaki Kisen Kaisha (TSE: 9107) has also experienced a decline of 3.2%, and Golar LNG (NASDAQ: GLNG) has dropped by 2.8%.
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