The UP World LNG Shipping Index gained 16.49 points (7.77%) last week, closing at 228.77 points — just shy of the 230-point mark — while the S&P 500 fell 1.90%. The advance was driven by a further escalation in the gas crisis: Iran’s retaliatory attack on the Ras Laffan complex damaged 17% of Qatar’s LNG export capacity, with restoration expected to take up to five years. Spot rates remain high at around $180,000 per day, and longer shipping distances are driving demand for additional tankers. The ratio of gainers to decliners was 12:8, with a median gain of 4.94% and trading volume roughly double the average.

Week 12-2026: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices)

Golar LNG led the index with a 22.66% surge, followed by Mitsui O.S.K. Lines (+14.1%) and NYK Line (+9%). Korea Line Corporation, Dynagas LNG Partners, and COSCO Shipping Energy Transportation each gained around 6–7%, while Tsakos Energy Navigation and Flex LNG both posted approximately 5% gains. New Fortress Energy suffered the steepest decline, falling nearly 28% following its restructuring announcement, which dilutes existing shareholders’ stake to 35%. Awilco LNG lost over 10% as the market continued to digest its capital raise and strategic pivot. The short-term outlook remains volatile; long-term fundamentals stay positive.

UPI & SPX

The UP World LNG Shipping Index, which…