LNG shipping stocks: The second week of growth
The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, gain 4.26% last week. US stocks represented by the S&P 500 Index gain 0.58%.
The UP Index continues to grow for the second week, this time adding over 4%.
The largest contributors to growth were U.S. listed partnerships Teekay LNG Partners LP (NYSE: TGP) and Höegh LNG Partners LP (NYSE: HMLP). Both increased the prices of their units by about 15%.
Two Japanese companies, Nippon Yusen Kabushiku Kaisha / NYK Line (TSE: 9101) and Mitsui O.S.K Lines / MOL (TSE: 9104) also added about 7%.
These high increases are followed by a gap, followed by two constituents growing by 2%: Golar LNG Limited (NYSE: GLNG) and GasLog Partners LP (NYSE: GLOP).
None of the companies or partnerships included in the UP Index fell by more than 1%.
The following picture provides a comparison of the UP Index and S&P 500 development.
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 17 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.