LNG shipping stocks: Direction undecided
The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.53% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 5.90%.
The past week brought mixed developments, with no shortage of big rises and falls. As a result, the UP index strengthened slightly, but it was not enough to cancel the potential Head and Shoulders formation.
Four Asian companies were among the most successful: a Japanese trio and a Korean representative. The company Kawasaki Kisen Kaisha aka “K” line (TSE: 9107), posted the biggest profit, namely 18.4%. In second and third place were Mitsui O.S.K. Lines, aka MOL (TSE: 9104), and Nippon Yusen Kabushiki Kaisha, aka NYK Line (TSE: 9101), which rose 7.7% and 6.5%, respectively. Korea Line Corporation, aka SM KLC (KRX: 005880), added 5.6%. Dynagas LNG Partners (NYSE: DLNG) also made the same profit last week.
Companies trying to push the UP Index lower were led by New Fortress Energy (NASDAQ: NFE), which shed 12.5%. The next was Golar LNG (NASDAQ: GLNG), which lost 8.2%. GasLog Partners (NYSE: GLOP) and Cool Company (OSE: COOL) followed, shedding 7.8% and 7.6%, respectively.
Two companies could not decide on either side, so they stayed put. These are Malaysia’s MISC Berhad (KLSE: 3816) and Capital Product Partners (NASDAQ: CPLP). This group also includes bp (NYSE: BP) and Awilco LNG (OSE: ALNG), which moved less than one percent.
And as the largest companies in the UP index – Qatar’s Nakilat (QSE: QGTS) and Norway’s Flex LNG (NYSE / OSE: FLNG) rose by 0.7% and 1.7%, respectively, the UP index did not add much to the result either.
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.