The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, lost 5.41% last week. US stocks represented by the S&P 500 Index lost 0.59%.
The rising stocks
The only rising stocks last week were Norwegian Awilco LNG ASA (OSE: ALNG, + 9.3%) and Malaysian MISC Berhad (KLSE: 3816, + 1.9%). However, their efforts to grow the UP Index were not enough to outweigh the declining stocks.
While US stocks were enough to correct the losses in Friday afternoon’s session, Asian stocks did not have that option.
3 shares that declined
The decline was dominated by three Japanese shares: NYK Line (TSE: 9101, -9.3%), MOL (TSE: 9104, -11.5%) and “K” Line (TSE: 9107, -9.3%). However, the vast majority of shares from the LNG shipping sector lost. Let’s name, for example Dynagas LNG Partners (NYSE: DLNG, -6.9%) and Golar LNG Limited (NYSE: GLNG, -5.1%).
The following picture provides a comparison of the UP Index and S&P 500 development.
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 17 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.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!