The UP World LNG Shipping Index (UPI) gained 0.48 points or 0.31% last week, reaching a closing value of 158.06 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.95%. The image below displays both indices.
Last year, UPI established a range with its upper level at 157 points. This year, a second range began with the lower level at 159 points. Despite positive earnings releases for the fourth quarter from several growing companies last week, UPI remained within these ranges, which is not very encouraging.
Awilco LNG (OSE: ALNG) gained the most, with its shares increasing by nearly 16% after announcing a TCE of $120kpds for its two TFDE vessels. Excelerate Energy (NASDAQ: EE) grew by 13%, and New Fortress Energy (NASDAQ: NFE) by 8.2%. However, Cool Company (NYSE/OSE: CLCO), which also released its Q4 results, lost 0.3%.
Nakilat (QSE: QGTS) initially showed a 5.5% increase in stock price but ultimately lost 0.7% by the end of the week.
Of the Japanese companies, only “K” Line (TSE: 9107) saw a rise in stock price with a gain of 6.7%. MOL (TSE: 9104) and NYK Line (TSE: 9101) both experienced losses of 3.8% and 1%, respectively.
The most significant decline in stock price was experienced by Capital Product Partners (NASDAQ: CPLP) and Exmar (BSE: EXM), both losing 4.6%.
In summary, the positive news of the past quarter didn’t help UPI to rise. Most of the constituents move around zero in their ranges.
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Source : Lngshippingstocks
