LNG shipping stocks: The hardest test ever in International Shipping News 03/03/2026 The UP World LNG Shipping Index gained 14.27 points (7.34%) to close at 208.80 in Week 9–2026, surpassing the 200-point mark for the first time in history, while the S&P 500 fell 0.44%. Geopolitical tensions in the Middle East drove the extraordinary advance. Among the 21 index constituents, COSCO Shipping Energy Transportation led the gainers, rising over 21% following the Lunar New Year holidays, while Tsakos Energy Navigation added 13.32%. Japanese majors also advanced strongly: Mitsui O.S.K. Lines rose 6.6%, “K” Line gained 4.47%, and NYK Line added 2.95%. The integrated energy companies Shell, BP, and Chevron posted moderate gains. On the downside, New Fortress Energy fell 10.66%, Awilco LNG declined 6.89%, and Korea Line Corporation lost 5.86%. In the short term, geopolitical risks remain elevated; the long-term outlook for the sector remains positive, supported by vessel scrapping and the addition of new liquefaction capacity. UPI & SPX The UP World LNG Shipping Index, which tracks listed LNG shipping companies, gained 14.27 points (7.34%), closing at 208.80 points, while the S&P 500 index lost 0.44%. The chart below illustrates the performance of both indices with weekly data. Week 9-2026: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices) Broader View UPI continues its record growth, surpassing the 200-point mark for the first time. Transport company shares appear likely to continue rising even after the US markets open. Our readers have an advantage in this regard. However, we want to deliver our report to you as soon as possible. One thing is certain – this is another test of maturity for the LNG sector, and it has everything it needs to pass. Reuters reported similar growth in Asian and European spot natural gas prices of approximately 20%. At the time of writing, Asian prices had already risen by 39% following Qatar’s suspension of production due to the Strait’s closure. TTF is mirroring this growth. The Strait of Hormuz is effectively closed due to Iran’s threat to shell ships, which has led to higher insurance premiums. Qatar has suspended LNG production because of direct Iranian military attacks on industrial facilities in Ras Laffan and Mesaieed. As reported by Alex Froley of ICIS, all Qatari LNG tankers are sailing to their customers, but they will not be able to return to Qatar for new cargoes for the time being. The figure of 20% reappears because it is the share of Qatari exports in global LNG supplies. Israel has also closed its oil fields in the Mediterranean Sea. Commentators agree that a short-term closure of the strait for a few days will have no impact, but once the ships reach their customers, Qatari gas will likely be sourced from Qatari fields in the US (Golden Pass). The question is what will happen to Iranian LNG supplies to China. The blockade probably does not apply to them. As the situation is changing even as this commentary is being written, it is impossible to keep the news up to date enough to focus on trends. Our recommendations included monitoring the shipping routes of individual companies’ fleets in case the strait was closed. Europe is currently in a better position than Asia because, due to Houthi attacks in the Red Sea, its supplies are primarily coming from the US. Given the end of the winter season and rising prices, we do not expect significant growth in demand from Europe. Still,