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LNG shipping stocks: The UP index broke its initial value

The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, added 2.4% last week. US stocks represented by the S&P 500 Index gain 0.51%.

Shares of companies from the LNG shipping sector, represented by the UP index, continue to rise. As a result, for the first time since January 2020, the UP World LNG Shipping Index exceeded its initial value of 100 points.

This time, Höegh LNG Partners LP (NYSE:HMLP) contributed the most, its price rising by 10.3%. The second company is the Japanese “K” series – Kawasaki Kisen Kaisha, Ltd. (TSE: 9107), which added 10% too.

Shares of Exmar NV (BSE:EXM) rose more than 5%.

Shares of mining companies, which have only a small part of their income from LNG shipping, also rose. Royal Dutch Shell plc (NYSE:RDS.A), BP p.l.c. (NYSE:BP) and Chevron Corporation (NYSE:CVX) added 4% each.

After previous double-digit growth, the Norwegian Awilco also corrected the LNG ASA (OSE:ALNG) by 5.6%.

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.
Source: UP-Indices.com

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