LNG shipping stocks: Against the global markets
The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained 2.32% last week. U.S. stocks represented by the S&P 500 Index lost 3.05%.
LNG shipping stocks continue rising, as the chart of the UP Index shows. Volatility remains high as global markets continue downward. UP Index moves near the resistance, tested two times in the last months.
The most successful LNG shipper of the past week was Dynagas LNG Partners (NYSE: DLNG), which gained over 14%, followed by Höegh LNG Partners (NYSE: HMLP). This partnership added nearly 9% to its price.
“K” line (TSE: 9107) is the fastest-growing stock from the Japanese trio as this company gained 7.9%. Two other Japanese shippers, NYK Line (TSE: 9101) and MOL (TSE: 9104), are still in their start blocks, but the “K” line has already started up.
Norwegian Awilco LNG ASA (OSE: ALNG) was the last strong gainer; it added 7%.
Only two companies had a significant loss – New Fortress Energy (Nasdaq: NFE) lost 4.8%, and Capital Product Partners (Nasdaq: CPLP) decreased by 4%.
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 maritime transport of liquefied natural gas (LNG). This unique index covers 17 companies and partnerships from countries worldwide like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers more than 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer both freemium (the basic chart of UP Index and S&P 500 index) and trial access to all charts.