LNG shipping stocks: Broad-based gains push index within striking distance of 200 in International Shipping News 24/02/2026 The UP World LNG Shipping Index surged 2.65% to close at 194.53 points, marking another week of powerful gains and bringing the index within just 6 points of the historic 200-point milestone. Combined with the previous week’s 3.3% advance, the index has now gained nearly 6% over the past fortnight, significantly outpacing the S&P 500’s 1.07% weekly gain. Most notably, last week’s rally was remarkably broad-based, with 19 stocks rising against just one decliner, while the previous week saw 14 gainers and six losers. This balanced participation across virtually all constituents signals healthy, sustainable growth rather than a rally driven by a handful of breakout stocks. Last week’s standout was Tsakos Energy Navigation, which posted a 9.99% gain, narrowly missing the double-digit mark. A cluster of five companies posted gains of 5% to 6.5%: Korea Line Corporation (now up for seven consecutive weeks), Mitsui O.S.K. Lines, Flex LNG, Golar LNG, and Dynagas LNG Partners. Both Flex LNG and Golar LNG broke above key resistance levels, though Golar’s move came on below-average volume. Flex LNG’s quarterly results confirmed strong fundamentals with its 18th consecutive $0.75 dividend, though the February 27 ex-dividend date may trigger short-term weakness. The previous week saw two companies achieve double-digit growth: Excelerate Energy surged 12.75% to new all-time highs, while Capital Clean Energy Carriers gained 11.09%. Both continued their momentum last week, with Excelerate adding 0.74% and CCEC rising 1.58%. The sole decliner last week was ADNOC Logistics & Services, which broke support below, down 3.88%. Spot rates and gas prices have stabilised, but geopolitical risks remain elevated. The long-term outlook remains positive, supported by steam vessel scrapping and new liquefaction capacity additions. UPI & SPX The UP World LNG Shipping Index, which tracks listed LNG shipping companies, gained 5.02 points (2.65%), closing at 194.53 points, while the S&P 500 index gained 1.07%. A week before, UPI gained over 3.3%. The chart below illustrates the performance of both indices with weekly data. Week 8-2026: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices) Broader View UPI continues its strong New Year growth without interruption and is only 6 points below the 200-point mark. A very positive sign is the balanced involvement of virtually all companies; growth is not driven by a few stocks “breaking away.” The first quarter is, of course, one of the highlights of the LNG season, but circumstances we often mention play a significant role in growth, such as the end of the dead period (concerns about global fleet overcapacity associated with the fall in spot rates), the growth in the number of liquefaction units, the decommissioning of first-generation tankers, and the maturity of the LNG sector, as demonstrated after Russia’s aggression in Ukraine. The past two weeks have again seen above-average trading volumes, despite the Chinese New Year celebrations. The week before last saw 14 stocks rise and six fall, while last week the ratio was 19:1. The median growth was 1.59% and 2.02%. Spot rates and gas prices have stabilised, but geopolitics remains a growing risk. Constituents Two companies achieved double-digit growth the week before last: Excelerate Energy (NYSE: EE, +12.75%) and Capital Clean Energ