Home / Shipping News / International Shipping News / LNG shipping stocks: Light growth

LNG shipping stocks: Light growth

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.71% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 1.13%.

The UP index did grow in the past week, but more at a leisurely pace. While U.S. stocks mostly declined, Asian stocks managed to stay in the green. Notably, the UP index remained at its all-time high and confirmed the growing trend. Despite this, or precisely because of this, our expectations remain the same – we expect a growth correction.

As we have already mentioned, the growth of the UP Index was mainly recorded by Asian companies. Nevertheless, only three companies can say of significant increase: NYK Line (TSE: 9101), MOL (TSE: 9104), and Norway’s Awilco LNG (OSE: ALNG). Their movement was 3.2%, 2.8%, and 2.6%. Korean SM KLC (KRX: 005880) added just under 2%, and Shell (NYSE: SHEL) added 1.6%.

Declining stocks were led by two smaller companies – Dynagas LNG Partners (NYSE: DLNG) and Exmar (BSE: EXM), which both lost 3.6%. Close behind was Cool Company (OSE: COOL), which lost 3.5%.

Qatar Gas Transport Company – Nakilat (QSE: QGTS) was also losing. This LNG giant declined by 2.7%. The third Japanese company, “K” line (TSE: 9107), also achieved the same decline. Golar LNG (NASDAQ: GLNG), Capital Product Partners (NASDAQ: CPLP), Chevron (NYSE: CVX), and GasLog Partners (NYSE: GLOP) further lost more than 1 percent.

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 !!