LNG shipping stocks: Imbalance
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 0.01 points last week. US stocks represented by the S&P 500 (SPX) index added 1.37%.
The stock of the week is Flex LNG Ltd. (NYSE:FLNG), which gained 27.8% following the announcement of a three-year charter with Cheniere toits four LNG tankers (with an option for a fifth vessel).
The second highest growth was recorded by another Norwegian company, Awilco LNG ASA (OSE: ALNG), whose shares added 14.4%.
But even that was not enough to move the UP index up.
Japanese companies continue to fluctuate, and have failed last week. K Line (TSE: 9107) lost 6.6%, NYK Line (TSE: 9101) depreciated 7.3% and Mitsui O.S.K. Line (TSE: 9104) lost even 9.5%. However, units of GasLog LNG Partners LP (NYSE: GLOP) lost the most of all, depreciating over 10%.
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.