The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 0.1% last week. U.S. stocks represented by the S&P 500 (SPX) index gained 0.32%. Both indices are in the picture below.
Many companies from the UP Index – like Flex LNG (NYSE / OSE: FLNG), Golar LNG (NASDAQ: GLNG), or Chevron (NYSE: CVX) – are close to the support lines, waiting for a decision on future moves.
The top gainer of the past week was Norwegian CoolCo (NYSE / OSE: CLCO), which gained 13.8% after the announcement of Q1 results, incl. dividends, and new charters. That was the first double-digit gain for the UPI component after several weeks.
The second biggest gain had Golar LNG. This company rose by 3%. Qatar Gas Transport Company – Nakilat (QSE: QGTS) in third place gained 1.3%. The last company that moved up was Flex LNG, with 0.7%.
The number of declining companies was higher. The most lost Exmar (BSE: EXM). This company, which is going to be private, lost 8.2%. New Fortress Energy (NASDAQ: NFE) is in a downtrend after losing 5.3% and breaking down the support line.
Asian companies also lost. Korean SM KLC (KRX: 005880) declined by 4.4%, and Japanese NYK Line (TSE: 9101) lost 3.3% and broke the support line too. “K” line (TSE: 9107) lost 2.3%, and Misc Bhd (KLSE: 3816) declined by 2%. Only MOL (TSE: 9104) holds the price.
Dynagas LNG Partners (NYSE: DLNG) returned to the support line, losing 4.7%. Excelerate Energy (NASDAQ: EE) dropped by 1.6%, but this might be a higher low technical formation.
About: UP World LNG Shipping Index, founded 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