Home / Shipping News / International Shipping News / LNG shipping stocks: Growth after two weeks of decline

LNG shipping stocks: Growth after two weeks of decline

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 1.41% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 1.39%.

Growth could have been better, but the palette of movement of individual companies was quite varied.

Two companies reached over five percent, but most were still around a positive zero with gains of 0.x%.

Specifically, the UPI growth contributed to Capital Product Partners (NYSE: CPLP) and Flex LNG (NYSE / OSE: FLNG). The first increased the stock price by 5.7 and %, and the second grew by 5.2 %. After these two, the 4% growth of Dynagas LNG Partners (NYSE: DLNG) is the only worth mentioning.

The drops were insignificant; the most – nearly four percent – lost Cool Company (NYSE / OSE: CLCO). The second loss was a two percent decline of Exmar (BSE: EXM).

Overall, the growth that follows two weeks of decline is logical. Meanwhile, it is difficult to judge whether it is the correction of a decrease or a continuation of the previous up trend of UPI. Now it depends on the overall movements of the stock markets.

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.
Source: UP-Indices.com

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping
error: Content is protected !!