LNG shipping stocks: Only two rising stocks
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 2.58 point or nearly 2.7% last week. US stocks represented by the S&P 500 (SPX) index gained 0.4%.
Picture below shows that the UP World LNG Shipping Index broke down the trend channel.
The market situation is best documented by the number of rising stocks: 2. Yes, there were only two rising stocks last week. The biggest increase was GasLog Partners LP (NYSE:GLOP) with 24%. The second was Qatar Gas Transport Company Ltd. (Nakilat, QSE:QGTS) that rose 4.6%.
The rest of constituents of the UP Index lost or moved around 0%. The biggest loss suffered Golar LNG Limited (NYSE:GLNG) that lost 7.3%. The rest of the companies lost mostly between 2 and less than 4%.
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 18 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.