The UP World LNG Shipping Index (UPI) lost 2.94 points or 1.86% last week, reaching a closing value of 155.11 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.95%. The image below displays both indices.

Week 11-2024: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices)
Week 11-2024: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices)

Last week, most of UPI´s constituents lost. The most significant drop affected Asian companies, and UPI still moves between the two previous ranges. To put it better, UPI made a new range between the last two. The area between the two ranges is quite unstable, as very low volume was traded here, and fast price moves usually occur. Now, after several weeks on this level, this has changed.

The biggest dropped Japanese “K” Line (TSE: 9107), which lost 11.3%. NYK Line (TSE: 9101) and Mitsui O.S.K. Lines (TSE: 9104) lost both 5.1%.

Awilco LNG (OSE: ALNG) declined by 4.3%, and Dynagas LNG (NYSE: DLNG) lost 3.7%. Korea Line Corporation (KRX: 005880) dropped by 2.9%, and around 2.3% lost New Fortress Energy (NASDAQ: NFE) and Chevron (NYSE: CVX).
Excelerate Energy (NASDAQ: EE) rose for the second week, gaining 4.2%. BP (NYSE: BP) gained 2.2%, and other constituents moved below 1% of gains.

In summary, UPI made a new level area. It is lower than the winter peak but still higher than the 2023 range.

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 covered over 65% of the world’s LNG carrier fleet in 2020. 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.