Home / Shipping News / International Shipping News / LNG shipping stocks: A break

LNG shipping stocks: A break

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.48% last week. U.S. stocks represented by the S&P 500 (SPX) index lost 2.08%.

The UP World LNG Shipping Index took a break as U.S. stocks continued losing. This shows different dynamics of the index in a downtrend and an uptrend. Markets were optimistic till Fed and many companies, e.g., New Fortress Energy (NASDAQ: NFE), were in significant profits.

There was only one rising company a week before, but several appeared last week, mainly from Japan. The most successful was “K” line (TSE: 9107), which gained over 7! NYK Line (TSE:9101) gained nearly 6%, and MOL (TSE: 9104) grew by 4.7%.
The most “non-Japanese” company was Capital Product Partners (NASDAQ: CPLP), with a growth of 2.2%. Awilco LNG (OSE: ALNG) gained 1.2%.

Dynagas LNG Partners (NYSE: DLNG) suffered the most significant decline, losing over 13%, followed by Golar LNG (NASDAQ: GLNG), which lost 5.1%. Excelerate Energy (NYSE: EE) lost 4.7%, and Qatar Gas Transport Company (QSE: QGTS) lost 2.3%.

UP World LNG Shipping Index is a rules-based stock index family designed to show and measure the performance of world publicly traded companies involved in the maritime transport of liquefied natural gas (LNG). This unique index covers 19 companies and partnerships worldwide, like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers over 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer freemium (the basic chart of the UP Index and S&P 500 index) and trial access to all charts.
Source: UP-Indices.com

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping