The UP World LNG Shipping Index (UPI) declined by 1.28 points or 0.83% last week, reaching a closing value of 152.45 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 (SPX) index, representing US stocks, gained 0.4%. The image below displays both indices.
UPI has continued to decline, dropping by the same percentage as last week. This is not a significant or trend-setting move; rather, UPI has slid down on lower traded volume. However, UPI has broken the lowest value of this year. The movement of constituents was lower than two percent, and only a few marked more vigorous movements. The off-season continues with lower traded stock volumes.
Despite Nakilat (QSE: QGTS) losing 3.6% and returning to the starting support area above February’s gap, the three new trends continue. This level still shows a positive perception of investors.
The Japanese trio continued to drop, and all three companies had a dividend ex-day. “K” Line (TSE: 9107) declined by 4.5%, NYK Line (TSE: 9101) dropped by 4.1%, and Mitsui O.S.K. Lines (TSE: 9104) lost 2.2%.
The gas and oil drilling trio showed mixed results. Chevron (NYSE: CVX) rose above the resistance and completed the week with a gain of 2%. Shell (NYSE: SHEL) and BP (NYSE: BP) paused, adding 0.2% and losing 0.3%, respectively.
Exmar NV (BSE: EXM) and Dynagas LNG Partners (NYSE: DLNG) were the top gainers. Exmar gained 6.7%, and Dynagas rose by 5.4%. The rest of the movements were lower than two percent.
In summary, UPI continues sliding down back to the 2023 area. Lower traded volume supported this slide.
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 18 companies and partnerships worldwide, like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covered over 65% of the world’s LNG carrier fleet in 2020. 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.
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Source: UP-Indices.com