The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained over 7.92% last week. U.S. stocks represented by the S&P 500 Index lost 1.27%, says an article published in UP – Indices.
Democratic states
LNG shipping stocks are majorly influenced by the Russian invasion of Ukraine as there is uncertainty with Russian gas export, LNG strengthens its position.
The geopolitical change is still in the beginning, but we can guess that energy from Russia will be taken by democratic states only if there is no avoidance. Long-term contracts with, e.g., Yamal terminal, might be endangered.
New Fortress Energy (NYSE: NFE) gained 34%, Japanese trio NYK Line (TSE: 9101), MOL (TSE: 9104), and “K” line (TSE: 9107) moved up for 16.7%, 17.2%, and 10.9%. Norwegian Awilco LNG ASA gained 14.8%, and Korea Line Corporation (KRX: 005880) rose by 12.4%.
LNG shipping index
UP Index consists of another trio we frequently write about – the oil and gas drillers. All Shell (NYSE: SHEL), Chevron (NYSE: CVX), and bp (NYSE: BP) have a fleet of LNG carriers. Now Shell and bp told they withdraw from Russia. And their stocks decrease 5.3% and 8.9%. Chevron´s stocks, on the other way, gained 13%.
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.
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Source: UP-Indices
