The UP World LNG Shipping Index surged 4.05% last week, closing at a historic 182.36 points, surpassing the 180-point threshold for the first time. In contrast, the S&P 500 saw a modest increase of 0.3%. Trading activity was robust, with a notable 15:4 ratio of advancing to declining stocks, as companies like COSCO Shipping Energy Transportation and Chevron saw significant gains of 10.6% and 6.1%, respectively.
However, Atlantic spot charter rates continued their decline, now at $11,000 per day. The freezing weather in Europe is driving up gas consumption, prompting suppliers to draw from storage facilities, which are currently at about 42% capacity.
On the downside, New Fortress Energy led the decliners with a 23.56% drop amid restructuring efforts, followed by Dynagas LNG Partners and Awilco LNG, which fell 6.2% and 4.7%, respectively.
Despite these fluctuations, the UP Forum maintains a positive long-term outlook, bolstered by steam vessel scrapping and new liquefaction capacity. Established in 2020, the UP World LNG Shipping Index tracks the performance of 21 publicly traded companies involved in the LNG maritime transport sector, representing over 65% of the global LNG carrier fleet.
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