LNG shipping stocks: Weakening
The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 3.56 points, or 4.35%, last week. US stocks represented by the S&P 500 (SPX) index gained 1.94%.
Last week was the opposite of the previous week and the two indices thus balanced. US-listed LNG shipping companies weakened the most. Shares of GasLog Ltd. lost almost 20%, which was an abnormally high decline.
On the contrary, very few shares went up, in fact only four: Exmar NV (EXM.BR, +3.5%), SM KLC (005880.KS, +2.3%), Qatar Gas Transport Company Ltd. (QGTS.QA, +1.8%), and Nippon Yussen Kabushiki Kaisha (9101.T, +1.7%).
Chart below shows both UP World LNG Shipping Index and S&P 500.
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 20 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.