The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, gained over 2.15 points or 2.50% last week. US stocks represented by the S&P 500 (SPX) index lost 0.43%.
Flex LNG Ltd Gained Over 22% After Q1/21 Results
And the winner of last week is… Flex LNG Ltd., which gained over 22% after Q1/21 results. Increased dividends and new long-term charters encourage investors.
No one else did a two-digits rise, the second-highest gain had Höegh LNG Partners LP (NYSE: HMLP) with 2.9%.
Rise In Shipping Index
The volatility of many of the constituents of the UP World LNG Shipping Index grew. The final weekly performance is much smaller than the highs and lows. And only two companies closed at new highs: Flex LNG and Exmar NV (BSE: EXM).
Chevron Corporation (NYSE: CVX) lost the most, 4.9%, followed by Qatar Gas Transport Company (QSE: QGTS) which lost 4.9%.
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’s unique index covers 18 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’s LNG carrier fleet.
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Source: Up Indices
