LNG shipping stocks: A Volatile Week of Growth in International Shipping News 24/03/2026 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 tracks 20 listed LNG shipping companies, gained 16.49 points (7.77%), closing at 228.77 points, while the S&P 500 index lost 1.90%. The chart above illustrates the performance of both indices with weekly data. Broader View The UPI resumed its upward trend and easily surpassed the 220-point mark, bringing it just shy of two points below the 230-point threshold. However, not all companies in the index rose; alongside geopolitical events, management actions also played a significant role. The ratio of gainers to losers was 12:8. The median gain was 4.94%, and trading volume was once again roughly double the average. For the third consecutive week, the world has been adjusting to the loss of one-fifth of LNG supplies, with further escalation in the gas crisis triggered by Iran’s retaliatory attack on the Ras Laffan gas complex in Qatar following Israel’s shelling of Iranian facilities linked to the South Pars gas fields. 17% of this hub’s export capacity was damaged, and restoration is expected to take up to 5 years. This was a key catalyst for growth among certain UPI companies, such as U.S. LNG producers and European natural gas producers. However, the latter are unable to increase production significantly. The shortage is thus being addressed through rising gas prices in Europe and Asia, along with increased global movement of LNG tankers between producers and consumers. Spot rates remain high, at around $180,000 per day, according to Spark Commodities, with longer distances driving demand for more tankers. Interestingly, the trend of rejuvenating the global fleet by phasing out first-generation tankers continues. The combination of high spot rates, growing demand for transport capacity, and the ongoing retirement of older vessels creates a structurally favourable environment for the modern LNG fleet. Constituents Golar LNG (NASDAQ: GLNG) experienced the largest increase, driven by the suspension of Qatar’s LNG exports. The 22.66% rise followed a correction from the previous week, pr