Last week, the UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, experienced a 2.19% increase. In comparison, the S&P 500 (SPX) index, which represents U.S. stocks, had a 0.39% gain. You can view both indices in the image below.
Last week, the stocks of LNG shipping experienced high volatility, but eventually, most of them saw an upward trend. Among the top gainers, Dynagas LNG Partners (NYSE: DLNG) stood out with a rise of 13.4%. Capital Product Partners (NASDAQ: CPLP) also saw an increase of 5.7%. Two Japanese stocks, “K” line (TSE: 9107) and Mitsui O.S.K. Lines (TSE: 9104), rose by 4% each. Cool Company (NYSE / OSE: CLCO) gained 5.5% and 2.8%, respectively, at NYSE and Oslo Stock Exchange. Golar LNG (NASDAQ: GLNG) experienced a rise of 2.3%, but its movements still remained within the support line range.
Although Shell (NYSE: SHEL) only saw a 0.3% gain, buyers successfully fended off sellers’ attacks for the second week. Meanwhile, New Fortress Energy (NASDAQ: NFE) gained 0.2%, but the sellers were more effective and managed to push the prices lower. Flex LNG (NYSE / OSE: FLNG) suffered the most and lost 2%, returning to the support line.
Currently, UPI is in a sideway area, and buyers and sellers compete to determine the future move. However, buyers seem to hold an advantage at present.
About: UP World LNG Shipping Index, established in 2020, is a rules-based stock index family designed to show and measure the performance of worldwide 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