The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, rose 1.88% last week. US stocks represented by the S&P 500 Index (SPX) added 0.71%, reports UP-Indices.
Uptick of UP Index
After five weeks of decline, the UP Index rose and even surpassed the SPX index. The biggest contributor to the growth is the Japanese company Kawasaki Kisen Kaisha/“K“ line (TSE: 9107), which grew by 21%. However, due to the breadth of business scope, its impact on the UP Index is only limited.
The second largest growth was shown by the Norwegian Flex LNG (NYSE: FLNG), whose business consists exclusively of maritime LNG transport. Its growth before the announcement of results for Q2 exceeded 9%.
Slip in Höegh LNG
On the other hand, Höegh LNG Partners LP (NYSE: HMLP), which, in addition to worries about refinancing FSRU Lampung, is concerned about rates on new contracts, still failed. This Partnership lost over 6%. The Korean SM KLC / Korea Line Corporation (KRX: 005880) did similarly.
The following picture provides a comparison of the UP Index and S&P 500 development.
UP World LNG Shipping Index
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.
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Source: up-indices
