LNG shipping stocks: Pushed down by markets

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 4.94% last week. U.S. stocks represented by the S&P 500 index lost 3.29%.

Only three companies from the UP Index were able to rise last week. The others declined, pushed by a stock market sentiment. As we showed on our Chart of the Week, the 10-week moving average still aims high. Traditional comparison of the UP Index with the S&P 500 shows how SPX has pushed negatively for the last three weeks to the UP Index.

“The three brave” rising constituents were Cool Company (OSE: COOL), which added 8.9%, Excelerate Energy (NYSE: EE) which gained 2.6%, and Capital Product Partners (NYQ: CPLP), with a similar rise of 2.4%. Qatar Gas Transport Company – Nakilat (QSE: QGTS), the biggest constituent, can add to this group. This LNG shipping giant lost “only” 2% and averted a more significant decline.
There were about two levels of decline: 7% and 3%. But these declines can´t be sorted geographically as in Asia, Europe and US were companies representing both levels.

The most – over 8% – lost the Japanese “K” line (TSE: 9107), followed by US Golar LNG (NYQ: GLNG) and New Fortress Energy (NYSE: NFE). Both lost around 7.5%. European Exmar (BSE: EXM) lost 7.2%.

Korea Line Corporation (KRX: 005880) and Mitsui O.S.K. Lines (TSE: 9104) lost 6.8% and 6.6%. NYK Line (TSE: 9101) lost 5.8%.
GasLog Partners (NYSE: GLOP) and Dynagas LNG Partners (NYSE: DLNG) lost 4.7% and 4.3%. Oil and gas drillers and also LNG shippers bp (NYSE: BP), Chevron (NYSE: CVX), and Shell (NYSE: SHEL) dropped around 3%. A similar loss also marked Flex LNG (NYSE / OSE: FLNG), which announced a special dividend.

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