UPI: LNG Shipping Stocks Remain Volatile

115

Last week, the UP World LNG Shipping Index (UPI) gained 1.82 points or 1.24%, closing at 148.07 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 1%, reports LNG Shipping Stocks.

Despite most constituents experiencing mild week-to-week moves, the daily market was much more dynamic. The most gained “K” line (TSE: 9107), which rose by 8.5%. M.O.L (TSE: 9104) gained 5.1%, and NYK Line (TSE: 9101) strength by 4.2%. Two other gainers were New Fortress Energy (NASDAQ: NFE) and Korea Line Corporation (KSE: 005880) with gains of 2.1%, and Capital Product Partners (NASDAQ: CPLP) with Dynagas LNG Partners (NYSE: DLNG), which gained 1.5%. Cool Company (NYSE/OSE: CPLP) rose by 2.3% on NYSE but lost 0.6% on OSE.

Exmar (BSE: EXM) suffered the greatest loss, dropping by 4.8%. Nakilat (QSE: QGTS) declined by 3.3% and is now close to its lowest price in two years. MISC (KLSE: 3816), Golar LNG (NASDAQ: GLNG), and Excelerate Energy (NASDAQ: EE) all lost around 2.5%.
Despite the drillers – bp (NYSE: bp), Chevron (NYSE: CVX), and Shell (NYSE: SHEL) – closing with minimal gains, all three experienced significant drops in share price during the week, as did CoolCo and Golar LNG.

In conclusion, LNG shipping stocks remain volatile.

Did you subscribe to our daily newsletter?

It’s Free!  Click here to Subscribe!

Source: LNG Shipping Stocks

LEAVE A REPLY