The global LNG shipping index (UP World LNG Shipping Index) rose by 3.84 points (1.68%) to 231.87 last week. Meanwhile, the S&P 500 also increased by 1.15%. This progress came as the ratio of increases to decreases in this index was 11 to 10, and a median movement of 2.3% was reported. At the same time, trading volume increased compared to the previous week, but still remained at a low level.
Significant Growth of COSCO and ADNOC
COSCO returned to the spring range with a 14% increase, and Excelerate Energy also rose by 6.8%. Additionally, ADNOC Logistics & Services compensated for its decline from two weeks ago with a 6.7% growth. Meanwhile, Shell reached new highs, and BP and Chevron increased by 3.26% and 2.56%, respectively. Japanese companies including NYK Line and Mitsui O.S.K. Lines also grew within their ranges, each increasing by 2.3% to 3.2%.
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Impact of Geopolitical Tensions on the LNG Market
Despite increased tensions between the United States and Iran and attacks on ships, demand for LNG in Asia has remained stable. LNG prices this week rose due to concerns over supply disruptions caused by attacks on tankers in the Strait of Hormuz. Despite these concerns, demand from major importers like China and India has been limited. Reports indicate that 9 ships have activated their AIS positions in the eastern Strait of Hormuz this month following the possibility of transit.
Spot rates for LNG tankers in the Atlantic decreased to $21,000, while rates for Pacific tankers remained at $39,000.
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