Home / Shipping News / International Shipping News / LNG shipping stocks: Uptrend continues

LNG shipping stocks: Uptrend continues

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained 6.05% last week. U.S. stocks represented by the S&P 500 Index gained 6.58%.

The S&P 500 index rose very strongly past week, but it may only be a downtrend correction similar to March. On the contrary, the UP Index is still in the uptrend.

Höegh LNG Partners (NYSE: HMLP) made the strongest up move after its management announced that they agreed with an increased offer of the GP to buy back. The new price was set to $9.25. After this announcement price of the units ran up 32%, and the total week gain was 34.2%.

Exmar NV (BRX: EXM) and Kawasaki Kisen Kaisha (TSE: 9107) made the same gain of 14%. And also, New Fortress Energy (Nasdaq: NFE) rose by 12.8%.

Three companies made around 8%: Korea Line Corporation (KRX: 005880), GasLog Partners (NYSE: GLOP), and Golar LNG (Nasdaq: GLNG). Also, the world‘s biggest LNG shipping company, Nakilat (QSE: QGTS) from Qatar, continues rising and gained 3% last week.
Malaysian´s Misc Berhad (KLSE: 3816) lost 8% after the announcement of Q1 earnings. Flex LNG (NYSE: FLNG) declined by 1.2%. That were the only declines of the last week.

About: 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 unique index covers 17 companies and partnerships from countries worldwide like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers more than 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer both freemium (the basic chart of UP Index and S&P 500 index) and trial access to all charts.
Source: UP-Indices.com

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping