LNG shipping stocks: December correction ended
The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 4.31% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 2.67%.
The UP index ended the December correction and went up to continue the upward trend. This is yet to be apparent in all companies, but in most companies, it already is.
GasLog Partners (NYSE: GLOP) and Excelerate Energy (NASDAQ: EE) contributed the most to growth. GLOP scored 9.5%, EE 8.1%.
The increments of three components of the UP index started with five. Less than two-tenths of six percent were added by SM Korea Line Corporation (KRX: 005880), Flex LNG (NYSE / OSE: FLNG) rose 5.5% and, Golar LNG (NASDAQ: GLNG) ended the week up 5.2%.
Capital Product Partners (NASDAQ: CPLP) added 4.8% to its unit value, and Shell (NYSE: Shel) gained 4.1%.
Last week allowed all three Japanese companies – NYK Line (TSE: 9101), MOL (TSE: 9104), and “K” line (TSE: 9107) – to grow by around two percent.
On the other hand, Qatar’s Nakilat (QSE: QGTS) and Dynagas LNG Partners (NYSE: DLNG) did not fare well. Both corrected previous strong growth. QGTS fell by 3.1%, and DLNG declined by 2.3%.
We are on the brink of a turning point where stock markets will finally start to tap into the potential of the LNG shipping sector.
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.