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LNG shipping stocks: Still above the support line

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 1.23% last week. U.S. stocks represented by the S&P 500 index lost 1.55%.

UP Index continued to stay above the support line (green line on the chart) and is still in better condition than S&P 500 (SPX). The whole market is still vulnerable. We still expect the UP Index to move around the support if SPX continues to decline and move up faster if SPX rises.

This week there were again two constituents of the UP Index, which rose by a two-digit percentage. One of them, GasLog Partners (NYSE: GLOP), was in previous top gainers. This week it added 13.8%. The second constituent was Awilco LNG (OSE: ALNG), which increased by 12.7%.

Exmar NV (BSE: EXM) gained 7.6%, Capital Product Partners (NYSE: CPLP) price increased by 4.5%, and Norwegian Cool Company (OSE: COOL) rose by 3.2%.

Japanese trio continued rising as all companies gained around three percent, NYK Line (TSE: 9101) gained 3.4%, „K“ line (TSE: 9107) grew by 3.3%, and MOL (TSE: 9104) moved 2.4% up.

The declining group was led by New Fortress Energy (NYQ: NFE), which lost 8.4%. Three companies lost around 5.5%: Golar LNG (NYQ: GLNG) lost the most – 5.8%. Excelerate Energy (NYSE: EE) followed with 5.5%, and Korea Line Corporation (KRX: 005880) lost 5.4%. Shell (NYSE: SHEL) and bp (NYSE: BP) lost around 2.4%.

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 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

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