The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained over 4.30% last week. U.S. stocks represented by the S&P 500 Index gained 0.82%, says an article published in UP – Indices.
Price raised
Russian PAO Sovcomflot (ME: FLOT) was removed from the UP World LNG Shipping Index. The major stakeholder of this company is the Russian Federation.
War on Ukraine raised prices of LNG shipping stocks as there are afraid that Russia will close its gas export and more countries want to set LNG as backup or even main source.
Four companies were rising over 10%: New Fortress Energy (NYSE: NFE), Golar LNG Limited (NYSE: GLNG), Exmar NV (BRX: EXM), and Flex LNG Partners (NYSE: FLNG). Both NFE and GLNG gained 16%, EXM rose 11%, and FLNG over 10%.
Other gainers rose up 3 or 5 percent: Korea Line Corporation (KRX: 005880) +5%, Awilco LNG ASA (OSE: ALNG) +5.6%, Chevron Corporation (NYSE: CVX) +5.2% and MISC Berhad (KLSE: 3815) +3.6%.
Shipping stocks
Only a few companies lost: bp (NYSE: BP) -3.3%, Mitsui O.S.K. Lines (TSE: 9104) -2.3% and Kawasaki Kisen Kaisha (TSE: 9107) -1%.
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.com
