LNG Stocks Still Close To Support Shipping Line

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The UP World LNG Shipping Index lost 0.21% last week. U.S. stocks represented by the S&P 500 index gained 1.94%, says an article published in  UP INDICES.

The Drop

The UP index has been moving at support for the third week.

Although more shares were falling again, the two largest titles in the UP index held the line of support: Golar LNG (NASDAQ: GLNG) and Qatar’s Nakilat (QSE: QGTS). GLNG rose 2.4% and Nakilat rose 0.7%.

Fortunately, they were not the only growing companies.

How Did The Individual Titles Develop?

The biggest increase was reported by Belgium’s Exmar (BRX: EXM), which added 6.8%. New Fortress Energy (NASDAQ: NFE) rose 5.4%, and Flex LNG (NYSE / OSE: FLNG) added 3.2%.

Two Japanese companies each gained 2.3%: Kawasaki Kisen Kaisha (TSE: 9101) and Mitsui O.S.K. Lines (TSE: 9104). Dynagas LNG Partners (NYSE: DLNG) was up 1.2%, but that was it.

The Burden Bearers

The biggest loser was Capital Product Partners (NASDAQ: CPLP), which shed 9%, followed by Shell (NYSE: SHEL), which lost 5.5%.

Other oil and gas producers, Chevron (NYSE: CVX) and bp (NYSE: BP), shed significantly smaller percentages, with Chevron shedding 2.6% and bp an even smaller percentage.

Next in line for losses are two Asian companies – Malaysia’s MISC Berhad (KLSE: MISC) fell 4.6%, and Korea’s SM KLC (KRX: 005880) shed 3.2%.

It was followed by Norway’s Awilco LNG (OSE: ALNG), which lost 3.5%, and GasLog Partners (NYSE: GLOP), which fell 2.5%.

The 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 unique index covers 17 companies and partnerships from countries worldwide like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers over 65% of the world’s LNG carrier fleet.

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Source: UP INDICES

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