This rally is attributed to positive global market sentiment and the beginning of winter preparations.
According to a UPI update from yesterday, “The performance indicates a strong outlook for the LNG shipping sector, supported by heightened electricity demand in regions such as South Asia.”
In Asia, spot LNG prices have recently spiked to their highest levels in over eight months.
The UP World LNG Shipping Index, established in 2020, tracks 19 companies and partnerships globally, covering approximately two-thirds of the world’s LNG carrier fleet.