LNG shipping stocks: Up again
The UP World LNG Shipping Index gained 9.73 points (4.72%) last week, closing at 215.82 points, while the S&P 500 gained 1.1%. At the regular rebalancing, South Korean firm PAN Ocean (KRX: 028670) was added, bringing the total to 21 constituents. The UPI continues to rise, with a 15:6 ratio of advancing to declining stocks, ...
The UP World LNG Shipping Index experienced a 4.72% increase last week, rising to 215.82 points. The S&P 500 gained 1.1%. South Korean firm PAN Ocean was added during the regular rebalancing, increasing the total constituents to 21. The UPI continues to rise, with a 15:6 ratio of advancing to declining stocks. Asian spot LNG prices fell by $0.65/mmBtu, yet remain high due to restricted Qatari exports.
Spot tanker rates dropped to $78,250/day for the Atlantic and $75,500/day for the Pacific. COSCO Shipping Energy Transportation led gains for the second week in a row, increasing by 8.49%. New Fortress Energy saw the largest decline at -8.47%.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
