Last week, the UP World LNG Shipping Index (UPI) stayed at the previous level, losing 3.48 points or 2.15%, closing at 158.67 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 0.32%. You can find both indices in the image below.

Week 1-2024: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices.com)

The UPI saw a correction in the gains made in the previous week and ended the year with a total gain of 6.85%. The last trading week of the year was relatively calm, with only the Japanese trio exceeding the average due to the massive gains in the previous week.

Among the decliners, “K” line (TSE: 9107) lost the most with a decline of 8.6%. However, this was a minor correction compared to its gain of over 28% the previous week. NYK Line (TSE: 9101) and MOL (TSE: 9104) saw declines of around 4%, while Excelerate Energy (NASDAQ: EE) lost 3.9%, Flex LNG (NYSE/OSE: FLNG) lost 3.4%, and Exmar NV (BSE: EXM) dropped by 2.7%. Dynagas LNG Partners (NYSE: DLNG) saw a loss of 1.8%, while Chevron (NYSE: CVX) and Golar LNG (NASDAQ: GLNG) declined by 1.3%.
On the other hand, Capital Product Partners (NASDAQ: CPLP) gained the most with 3.6%, followed by Nakilat (QSE: QGTS) and Awilco LNG (OSE: ALNG) with a slight gain above 2%. Korea Line Corporation (KRX: 005880) saw a gain of 1.2% in the last week.
In summary, the last trading week of the year brought a minor correction of the previous gains, and the UPI closed the year above the previous resistance level, which now serves as a support line.

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.
Source: UP-Indices.com, By Tomas Novotny