LNG shipping stocks are still heading up
The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.51% last week. However, U.S. stocks represented by the S&P 500 (SPX) index lost 2.94%.
The nervousness in markets, which led to a significant SPX decline in US stocks, has not been reflected in UPI. This is due to com-panies’ very good results for Q4-22 and the culminating season of demand for LNG.
UPI was again most supported by Asian shares, of which the Korean company SM KLC (KRX: 005880) strengthened by more than 9 %. It is the most significant growth of this title since the start of a decline last June. The next in the row were two companies from Japan: NYK Line (TSE: 9101), with a growth of 7.2 %, and MOL (TSE: 9104), which strengthened by 5.4 %. Finally, the third Japa-nese representative – “K” line (TSE: 9107) – remained with a growth of 2.2 % in the hinge.
Numerous was a group with a growth of about 3 %. It included American companies – New Fortress Energy (NFE), GOLAR LNG (NASDAQ: GLNG), European Exmar NV (BSE: EXM), and Katar´s Nakilat (QSE: QGTS).
The loss titles include AWILCO LNG (OSE: ALNG), which dropped by 7 % after ex-date, and Dynagas LNG Partners (NYSE: DLNG) with a loss of 2.2 %, Flex LNG (NYSE / OSE: FLNG), also after ex-date, dropped by 1.9 %. The group closed Excelerate Energy (NASDAQ: EE) with a loss of 1.5 %.
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.