The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 2.34% last week. U.S. stocks represented by the S&P 500 (SPX) index also lost 0.8%. Both indices are in the picture below.

UP World LNG Shipping Index vs. SPX 19-23
Week 19-2023: UP World LNG Shipping Index with S&P 500 (Source:

UPI is continuously declining and is close to breaking a level where the downtrend will start. This level is below the last low at 145 points. On the other hand, breaking the 155-point level might change the trend to an up trend.

Nakilat (QSE: QGTS) gained 1.6% last week and was with New Fortress Energy (NASDAQ: NFE), one of the few rising companies. NFE gained 1.7%.

The decline was led by bp (NYSE: BP), which lost nearly 8%. Golar LNG (NASDAQ: GLNG) and Flex LNG (NYSE/OSE: FLNG) followed, losing 6.7% and 6.5%.

Japanese stock exchange was closed for two days, but NYK Line (TSE: 9101), MOL (TSE: 9104), and “K” line (TSE: 9107) lost nearly the most, from 3.1% to 5.5%.

The volatility of the markets will continue for a few weeks as macros and earnings come to be published.

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.