LNG shipping stocks: Asia and Norway pushed UPI higher
The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 2.32% last week. However, U.S. stocks represented by the S&P 500 (SPX) index stay at the same level.
UPI outperformed SPX again, though not as much as a week earlier. Norwegian CoolCo (OSE: COOL) contributed the most to the growth, adding over 12 %. This company will be dual-listed on NYSE on 15th March. The new ticker for bot listings will be CLCO.
Other growing companies can be divided into two groups. The larger group consisted of Asian shares, a smaller group of society that announced financial results last week – coincidentally, both were from Norway, and both scored by 5.9 %.
Flex LNG (NYSE / OSE: FLNG) announced a higher TCE and a special dividend of $ 0.25, and the total dividend for 4Q-22 is one dollar. Awilco LNG (OSE: ALNG) also announced higher TCE and its first-ever dividend: 0.5 NOK.
The Asian representatives in UPI dragged up the company from Japan. As a result, “K” line (TSE: 9107) increased by 5.7 %; MOL (TSE: 9104) and NYK Line (TSE: 9101) added over 4 %. Malaysian MISC Berhad (KLSE: 3816) growth by 3.3 %.
A more significant growth of around three percent was recorded by GasLog Partners (NYSE: GLOP) and Dynagas LNG Partners (NYSE: DLNG).
It was Katar´s Nakilat (QSE: QGTS), which lost most – 4.7 %. Korea Line Corporation weakened by 3.5 %, and Golar LNG (NASDAQ: GLNG) dropped by 3.3 %. Excelerate Energy (NASDAQ: EE) declined by 2.6 %.
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.