Last week, the UP World LNG Shipping Index (UPI) lost 0.12 points or 0.08%, closing at 162.06 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 1.17%. You can find both indices in the image below.
There were five rising constituents of UPI last week, and the majority were from Japan. The whole index didn´t move and stayed above the previous high.
The most growth “K” line (TSE: 9107) pushing its price for 11.5% higher. The other major gainers were Mitsui O.S.K. Lines (TSE: 9104) and NYK Line (TSE: 9101), which grew by 6.5% and 5.7%, respectively. To this group belongs also Capital Product Partners (NASDAQ: CPLP), which continues the uptrend with a gain of 6.2%.
Exmar (BSE: EXM) continues its sideway and gains 1.9%. Excelerate Energy (NASDAQ: EE) moved up just 1.4% but turned the week’s decline into a gain, which might be a turnover for this stock.
New Fortress Energy (NASDAQ: NFE) led the group of declining stocks, which lost nearly 10% and returned to a previous range. A similar pattern has also happened to Shell (NYSE: SHEL); its loss was “only” 4.2%, but its drop meant an end to the previous rise attempt. Two other gas and oil producers – Chevron (NYSE: CVX) and BP (NYSE: BP) lost around 3%. As CVX is just on the support, BP closed below it. Awilco LNG (OSE: ALNG), losing 3.5%, also closed below the support line on the weekly chart. Golar LNG (NASDAQ: GLNG) lost 5.1% but still moves in a range. Same did Flex LNG (NYSE/OSE: FLNG), which declined by 2.3%.
In summary, the majority of UPI´s constituents declined last week. Only a few constituents are in an uptrend: Japanese trio and CPLP. EE might start its growth now. The rest move in brackets or started a downtrend.
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Source : Lngshippingstocks
