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LNG shipping stocks: Decline did not break the up trend

The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost over 2.4 points, or nearly 3%, last week. US stocks represented by the S&P 500 (SPX) index added 1.14%.

The development of the UP Index chart suggests that losing stocks prevailed. The largest increase was achieved by Awilco LNG ASA (OSE: ALNG), namely 4.9%. Exmar NV (EBR: EXM) and Qatar Gas Transport Company Ltd. (QSE: QGTS) were next in line with about 2% growth. And that was all from the more significant increases.

Chart below shows both UP World LNG Shipping Index and S&P 500.

On the contrary, there were many declining stocks. The Korean Line Corporation (KRX:005880) lost the most, nearly 20%. After the ex-dividend days, the Japanese companies Nippon Yusen Kabushiki Kaisha (TSE: 9101) and Mitsui O.S.K. Lines Ltd. (TSE: 9104) lost 5.7% and 5.5%. American Teekay LNG Partners LP (NYSE: TGP) also lost over 5%. The good news is, that the up trend is not broken yet.

About UP World LNG Shipping 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 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.
Source: UP-Indices.com

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