The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 3.87% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 0.8%.

LNG shipping stocks represented by UPI outperformed SPX, but more important is the strength of this move. After four weeks of quite a low growth, this is finally a substantial gain. UPI is now rising to a resistance formed by the previous high.

Week 16-2023: UP World LNG Shipping Index with S&P 500 (Source: UP-Indices.com)
Week 16-2023: UP World LNG Shipping Index with S&P 500 (Source: UP-Indices.com)

Japanese trio again pushed UPI higher but was not alone. Declining New Fortress Energy (NASDAQ: NFE) made an 8% up correction – or was it confirmation of a new up trend? That might be a key question for investors. Unfortunately, the volume was not as high to be optimal to confirm.

Flex LNG (NYSE / OSE: FLNG) gained 5% and aims now to the resistance at about $36. FLNG will announce Q1-23 earnings on 16th May, so there is a high chance that these results will support the stock rise.

Golar LNG (NASDAQ: GLNG) rose by 4.6% and seems to bounce up from the support. The same did CoolCo (NYSE / TSE: CLCO), which gained 3.3%. The same gain also had Dynagas LNG Partners (NYSE: DLNG).

Qatar´s Nakilat rose for the third week in a row and gained 2.4%. Oil and gas drilling trio – Shell (NYSE: SHEL), bp (NYSE: (bp), and Chevron (NYSE: CVX) – gained from 2.5 to 2.9%.

Exmar NV (BSE: EXM) was the only one that lowered its stock price, but the loss was just 0.2%. This company will get private, so the price will not move anymore.

UP World LNG Shipping Index 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.

Source: UP-Indices.com