The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 1.77% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 0.87%.
Even though UPI declined, the charts of its constituents are more optimistic, and there were also a few strong gainers.
Even Nakilat (QSE: QGTS) was not the top gainer, we have to name it first. The price of this company’s stocks has been rising all April and added 4.5% last week. Price is at the highest level of this year.
The most rising constituent of UPI was Awilco LNG (OSE: ALNG), which rose by over 14%. As a result, traded volume was also higher than usual.
The third rising stock was Golar LNG (NASDAQ: GLNG). Also, this company traded on over-average volume, and its gain of 6.6% is very good, especially since it closed above previous weeks’ highs and stepped into a higher price level.
A very similar positive profile of price development had Excelerate Energy (NASDAQ: EE) and Cool Company (NYSE/OSE: CLCO) last week. Both gained about 1.8%, but CoolCo is better positioned as Excelerate Energy has to break the downtrend first.
The majority of declining stocks were from Asia. The most – -6.3% – lost “K” line (TSE: 9107). NYK Line (TSE: 9101) declined by 5.5%, and MOL (TSE: 9104) lost 3.9%. Korea Line Corporation (KRX: 005880) decreased by 2.4%. Capital Product Partners (NYSE: CPLP) was the only non-Asian declining company. Its shares closed with a loss of 1.7%.
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 the maritime transport of liquefied natural gas (LNG). This unique index covers 19 companies and partnerships worldwide, like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers over 65% of the world’s LNG carrier fleet. UP Index is a premium service. We offer freemium (the basic chart of the UP Index and S&P 500 index) and trial access to all charts.
Source: UP-Indices.com