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LNG shipping stocks: The drop has arrived

The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 5% last week. U.S. stocks represented by the S&P 500 (SPX) index lost 3.37%.

The UP World LNG Shipping Index started declining, as we expected. UP Index did an all-time high before the decline, and its gains are still huge for this year. SPX has declined since the new-year eve and is doing lower-low now and again. The green line on the UP Index chart is a support line, but we don´t expect the decline will touch this line.

New Fortress Energy (NASDAQ: NFE) lost 14% last week. That was the most significant decline and the only one in the two-digit range. Just a little below this range was the loss of GasLog Partners (NYSE: GLOP), which lost 9.8%. Excelerate Energy (NASDAQ: EE) lost 8.8%. Awilco LNG (OSE ALNG) declined by 8.5%, and Chevron (NYSE: CVX) lost 7.5%.
Flex LNG (NYSE / OSE: FLNG), with a loss of 5.3%, separates this group from constituents, which lost around 4%. In this large group were bp (NYSE: BP) -4.7%, Capital Product Partners (NASDAQ: CPLP), which lost 4.5%, Exmar (BRX: EXM) -4.4%, Golar LNG (NASDAQ: GLNG) -4% and Shell (NYSE: Shel), which declined by 3.7%. Qatar Gas Transport Compan – Nakilat (QSE: QGTS) lost 2.7%.

Asian stocks again had shallow losses, and Korea Line Corporation (KRX: 005880) even gained 0.9%. That was the only growth of the last week.

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 co-vers 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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