LNG shipping stocks: Fourth week of small gains
The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.96% last week. U.S. stocks represented by the S&P 500 (SPX) index lost 0.1%.
Especially non-U.S. companies pushed UPI higher. UPI rose for fouth time.
Exmar NV (BSE: EXM) gained 20% after a takeover offer. Qatar Gas Transport Company – NAKILAT (QSE: QGTS) rose nearly 10% with above-standard volume.
The oil and gas drilling trio continued up after OPEC+ cutting production. Shell (NYSE: SHEL) gained 5.3%, bp (NYSE: BP) raised by 4.1%, and Chevron (NYSE: CVX) grew by 2.8%. Japanese trio also went higher by about 2%.
Excelerate Energy (NASDAQ: EE) gained 3.3% and continued rising after a 16.5% gain a week before. This move changed the downtrend.
New Fortress Energy (NASDAQ: NFE) lost 4.7%, and Dynagas LNG Partners (NYSE: DLNG) declined by 4.2%. Capital Product Partners (NYSE: CPLP) lost 3.6%.
UPI rises for one month, but the gains are pretty small. Some constituents mentioned above changed their trend. Nevertheless, LNG shipping investors can still find possibilities for gains.
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.