LNG Shipping Stocks: Two New Companies Extended the UP Index


During the last regular rebalance, which took place on October 29, 2021, the UP World LNG Shipping Index was expanded by two new companies: New Fortress Energy (NYSE:NFE) and the Russian PAO Sovcomflot (ME:FLOT), reports Up-Indices.

In the case of the NFE, it is actually a return, because the fleet of the original Golar LNG Partners LP returns to the UP index. NFE’s weight is 5.96%, Sovcomflot’s weight is 1.38%.

Two new internal data sources

To increase the precision of the UP Index there are used two new internal data sources: UPI Time- Charter Equivalent and database of LNG vessels. TCE is based on inner calculation and the database is based on cooperation with MarineTraffic and internal research.

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 1,32% last week. US stocks represented by the S&P 500 Index gained 2%.

19 companies and partnerships

Of all 19 companies and partnerships that make up the UP Index, only four grew.

Golar LNG Limited (NYSE:GLNG) gained the most, 4.2%. The second was GasLog Partners LP (NYSE: GLOP) with less than 2%. Qatar Gas Transport Company (Nakilat) (QSE:QGTS) gained only 0.9%, but withstood stronger downward pressure. The newly listed Russian company PAO Sovcomflot (ME:FLOT) gained a similar 0.8%, but its chart looks significantly different than that of Nakilat.

The companies that were losing significantly more. These were mainly all three Japanese companies, of which “K” Line (TSE:9107) lost the most of the entire UP Index – it wrote off over 11%. NYK Line (TSE:9101) lost almost 9% and MOL (TSE:9104) lost over 6.5%. The Japanese trio was followed by Höegh LNG Partners LP (NYSE:HMLP), which depreciated 5.2%.

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Source: UP-Indices


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