LNG shipping stocks: UP Index strengthened again
The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, added 1.98% last week. US stocks represented by the S&P 500 Index lost 1.69%.
Last week was more varied in terms of events between LNG shipping shares. While we did not see a single decline of more than 1% a fourteen days ago, there were a number of them last week. Nevertheless, the UP Index strengthened.
This is due to the Norwegian company Awilco LNG ASA (OSE: ALNG), whose shares rose by almost 30%. The Japanese trio NYK Line (TSE: 9101; + 10.5%), MOL (TSE: 9104; + 6.9%) and “K” line (TSE: 9107; + 16.6%) also contributed significantly to the growth.
Norwegian Flex LNG (NYSE: FLNG) added 5.8% and Belgian Exmar NV (BRX: EXM) 4.5%.
The largest losses were recorded by units of GasLog Partners (NYSE: GLOP), which depreciated 7.7%, and units of Höegh LNG Partners (NYSE: HMLP) with a loss of 6.3%. Golar LNG Limited (NYSE: GLNG) and Dynagas LNG Partners (NYSE: DLNG) lost 3.1% respectively.
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.