LNG shipping stocks: Coincidental growth
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, gained 1.26 points, or nearly 1.6%, last week. US stocks represented by the S&P 500 (SPX) index lost 2.45%.
As every week, we present a graph of the UP World LNG Shipping Index with a short comment.
The largest increase was recorded by shares of GasLog Ltd. (NYSE:GLOG), which rose by 19% after the announcement of the acquisition by BlackRock. It is likely that they will remain at this acquisition level until delisting, similar to Golar LNG Partners LP units.
Mining companies such as BP p.l.c (NYSE:BP; +6.7%), Chevron (NYSE:CVX; +4.4%) and Royal Dutch Shell (NYSE:RDS.A; +3.7%), which have minority revenues from LNG shipping, have prospered.
The growth of the UP World LNG Shipping Index was again supported by two Japanese companies: NYK Line (TSE: 9101; +4.9%) and Mitsui O.S.K. Lines (TSE: 9104; +5.7%). Even for these companies, the income of LNG shipping is only part of the revenue.
Shares of Awilco LNG ASA (OSE: ALNG; -10.4%) and GasLog Partners LP (NYSE: GLOP; -7.1%) fell the most.
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 world unique index covers 20 companies and partnerships from countries all over the world like the USA, Qatar, Japan, Norway, South Korea or Malaysia. The index covers more than 65 % of the world LNG carrier fleet.