Home / Shipping News / International Shipping News / LNG shipping stocks: Correction is here

LNG shipping stocks: Correction is here

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 6.75% last week. U.S. stocks represented by the S&P 500 index lost 5.05%.

The expected wave of decline has arrived in the LNG maritime transport sector. Only four companies managed to grow last week, and the growth was diverse.

GasLog Partners (NYSE: GLOP) gained over 10%, followed by Awilco LNG (OSE: ALNG), which grew 7.9%. Almost five percent was added by Qatar Gas Transport Company – Nakilat (QSE: QGTS). Capital Product Partners (NASDAQ: CPLP) was the latest green, which reduced its weekly growth to 1.6%.

But there were far more companies that depreciated their profits. The Japanese “K” line (TSE: 9107) lost 16.3%, followed by New Fortress Energy (NASDAQ: NFE), which wrote off 12.4%.

Many companies lost between 9 and 10%. These include Flex LNG (NYSE: FLNG), Dynagas LNG Partners (NYSE: DLNG), NYK line (TSE: 9101), and MOL (TSE: 9104). Golar LNG (NASDAQ: GLNG) fell 8.6%, and Exmar (BRX: EXM) lost almost 7%.
Nevertheless, the UP World LNG Shipping Index remains in growth mode.

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 over 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer freemium (the basic chart of 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