LNG shipping stocks decline again
The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 2.98% last week. US stocks represented by the S&P 500 Index gain 0.32%, same as a week before.
The decline, which we pointed out in the past article, thus continues.
Only three constituents from the UP Index rose last week and none of them exceeded 2% rise. Dynagas LNG Partners LP (NYSE: DLNG) rose the most by 1.8%. Shares of Flex LNG Partners Ltd. (NYSE:FLNG) gained only a tenth less. And another Norwegian company,
Awilco LNG ASA (OSE:ALNG), grew another tenth less, i.e. 1.6% last week. It is necessary to add that the largest company of the UP Index, the Qatari Nakilat (QSE:QGTS) gained a good 0.5% and significantly contributed to reducing the losses of the index.
There were far more companies whose shares fell. The Japanese Kawasaki Kisen Kaisha Ltd. (TSE:9107) lost the most, almost 13%. GasLog Partners LP lost 8.5% and Belgian Exmar NV (BSE:EXM) dropped by 7%.
Many companies have written off between 6% and 4%. For example, the two remaining Japanese companies Nippon Yusen Kawasaki Kaisha (TSE:9101) and Mitsui O.S.K. Lines Ltd. (TSE: 9104), Golar LNG Ltd. (NYSE:GLNG), and also BP p.l.c. (NYSE:BP) and New Fortress Energy Inc. (NYSE:NFE).
The situation is better seen in the chart comparing the UP World LNG Shipping Index and the S&P 500 Index.
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 19 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.