The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 3% last week. U.S. stocks represented by the S&P 500 Index lost 1.27%, says an article published in UP-Indices.
LNG ASA
Last week the LNG shipping stocks paused after a long up move, which lasted from February. After all, the rest of the market did the same, as you can see on the chart below. If you want to see the whole chart of the UP World LNG Shipping Index compared to SPX, register on our website for a new freemium service.
A similar 3.5% gained both Malaysian Misc Berhad (KLSE: 3816) and U.S. Chevron (NYSE: CVX). Korea Line Corporation (KSE: 005880) rose 2.5% and bp added 2.1%.
The most significant decline was suffered by Norwegian Awilco LNG ASA (OSE: ALNG), which lost nearly 10%. Japanese stocks declined for the third week in a row. Both NYK Line (TSE: 9101) and Mitsui O.S.K. Lines (TSE: 9104) lost 8.5%, and the “K” line (TSE: 9107) dropped by nearly 7%.
The previous two-digits gainer, New Fortress Energy (Nasdaq: NFE), paused the rise and lost 7.3%. In a similar situation is Höegh LNG Partners (NYSE: HMLP), which lost 3.3%.
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
