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LNG shipping stocks: Still rising

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 5.03% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 4.74%.

Global LNG shipping stocks, represented by the UP World LNG Shipping Index, continue rising, supported by the coming winter and growing US stock markets. The chart below compares the weekly development of the UP Index and SPX.

Even last week, two companies raised by a two-digit percentage. This trend continued for the third time; last week, the top gainers were New Fortress Energy (NYQ: NFE) and Excelerate Energy (NYQ: EE). NFE gained 17.9%, and EE followed with 11.7%.

Just a tenth was missing for GasLog Partners LP (NYSE: GLOP) to expand this group for the third time.

After Chevron (NYSE: CVX), which gained 8.1%, followed a group of three companies with a similar gain of around 6%. It was: Capital Product Partners (NYQ: CPLP) +6.6%, Awilco LNG (OSE: ALNG) +6.2%, and Golar LNG (NYQ: GLNG) +6.1%.
Qatar Gas Transport Company – Nakilat (QSE: QGTS) slowed below the resistance line to +3% but closed above October´s high, which is positive.

Japanese trio – Nippon Yusen Kabushiki Kaisha (TSE: 9101), Mitsui O.S.K Line (TSE: 9104), and Kawasaki Kisen Kaisha (TSE: 9107) also continued on the way up. These companies gained 1.1%, 2.3%, and 4.2%.

The stock market seems to be less nervous but 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.

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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