LNG shipping stocks: UP index above 90 points
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, gained nearly 1.8 points or more than 2% last week. US stocks represented by the S&P 500 (SPX) index lost 1.16%.
UP World LNG Shipping Index crossed the 90 points border last week and is very close to the initial value of 100 points. The UP World LNG Shipping Total Return Index, an index that adds paid dividend to the stock price, is even closer – less than three points. Dividends are an important part of the investment.
Chart below shows both UP World LNG Shipping Index and S&P 500.
No two-digit gains last week. The most rising stock was Golar LNG Ltd. (NYSE:GLNG), which added 7.1%. More important is breaking of resistance and closing at the highest price of 2021. Flex LNG (NYSE:FLNG) continues rising and is above its IPO price.
Other rising stocks only corrected previous declines like “K” line (TSE:9107; +5.6%), NYK line (TSE:9101; +3.3%) or Qatar Gas Transport Company (QSE:QGTS; +2.8%).
GasLog LNG Partners (NYSE:GLOP) lost 7% which was the biggest decrease last week. Exmar NV (BRX:EXM) lost 3.4%, but after a two-digit rise.
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 18 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.