The UP World LNG Shipping Index rose 1.68% over the week, outperforming the S&P 500 even as Atlantic LNG tanker spot rates declined, according to a report published by Hellenic Shipping News. The index, which covers 21 listed LNG shipping companies, added 3.84 points to finish at 231.87, against a 1.15% increase in the broader US equity benchmark.
The underlying share performance suggested stabilisation rather than a decisive rally. Eleven constituents advanced and 10 declined, with a median movement of 2.3%, while the weighted index slipped by less than half a per cent. Trading volumes increased but remained relatively low. The report, by UP-Indices’ Tomas Novotny, said forthcoming third-quarter results could bring positive surprises from companies with spot-employed vessels or exposure to gas trading.
COSCO Shipping Energy Transportation led the gains, rising 14% to return to its spring trading range. Excelerate Energy climbed 6.8%, while ADNOC Logistics & Services gained 6.7%, reversing its previous two-week decline. Shell advanced 4% to fresh highs for the year. BP and Chevron rose 3.26% and 2.56%, respectively, although both remained within sideways trading ranges. NYK Line, Mitsui O.S.K. Lines and “K” Line gained between 2.3% and 3.2%.
Losses were concentrated in several names, notably New Fortress Energy, which dropped more than 33% to new lows. Nakilat fell 2.88%, with the report linking its weakness to geopolitical conditions. Korea Line Corporation lost 5.6%, Pan Ocean declined 3.4% and Dynagas LNG Partners retreated 4.5%, surrendering its preceding week’s gains.
In the physical market, Hellenic Shipping News cited Reuters reporting that Asian spot LNG prices strengthened amid renewed tanker attacks near the Strait of Hormuz and concerns about supply disruption. Subdued purchasing by China and India limited the increase. Argus LNG pricing head Martin Senior said nine carriers had switched on their AIS transponders east of Hormuz during the month after likely transits, while four ship-to-ship transfers probably occurred in the Gulf of Oman during the week. Northeast Asian inventories were considered ample ahead of winter. Against that backdrop, Spark Commodities put Atlantic LNG tanker spot rates at $21,000, down over the week, while Pacific rates held at $39,000.