LNG shipping stocks: Growth continues again
The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gain 0.88% last week. US stocks represented by the S&P 500 Index gained 1.64%.
GasLog Partners LP (NYSE:GLOP) was the fastest growing title in the UP Index last week. The price of its units rose by 13% and reached the zone where sellers had entered into the market in the past. However, in the current energy situation, it may be different.
The second largest growth stock was Qatar Gas Transport Company (Nakilat) (QSE:QGTS) with growth of more than 5%. This world’s largest shipping company LNG has been waiting for similar growth for many weeks.
The group of companies growing by 3-4% was relatively wide. Includes Awilco LNG ASA (OSE:ALNG), Flex LNG (NYSE:FLNG), Nippon Yusen Kabushiki Kaisha (TSE:9101) and Chevron (NYSE:CVX).
On the other hand, the Belgian Exmar NV (BSE:EXM) suffered the largest losses after previous growth, namely -5.3%. Höegh LNG Partners LP (NYSE:HMLP) is in a similar situation, losing 5.1%.
Looking for direction, the South Korean SM KLC (KRX:005880) depreciated 4.6%, having previously gained over 8%.
The following picture provides a comparison of the UP Index and S&P 500 development.
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 17 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.