The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained 6.67% last week. U.S. stocks represented by the S&P 500 index gained 4.26%.
The UP index continues to grow strongly above the previous support line. Last week, two companies claimed an increase of more than 13%. They were New Fortress Energy (NYQ: NFE) and Chevron (NYQ: CVX). Third in the order, Norway’s Awilco LNG (OSE: ALNG) fell just one-tenth below the 13% mark.
Although they were the only double-digit increases, the other pair was not far from this limit either. Flex LNG (OSE / NYQ: FLNG) and Shell (NYQ: Shel) gained an identical 9.4%.
Two other companies increased their stock price by more than five percent: Exmar (NSE: EXM) gained 7.4%, and bp (NYQ: BP) rose by 6.6%.
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Capital Product Partners (NYQ: CPLP) rose 4.2%, Golar LNG (NYQ: GLNG) added 3.6%, and GasLog Partners (NYQ: GLOP) rose 3.5%.
Asian shares remained a bit in the shadow of the American stock exchanges. The biggest gains of three and a half percent were claimed by the pair formed by the Japanese Mitsui O.S.K. Lines (TSE: 9104) and Malaysia’s MISC (KLSE: 3618). Kawasaki Kisen Kaisha (TSE: 9107) even lost 0.7%. This was the only decrease for the past week.
Summer is in full swing, and LNG shipping companies seem to be doing well. This week the UP Index will be rebalanced regularly, and new companies will be added.
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 maritime transport of liquefied natural gas (LNG). This unique index covers 18 companies and partnerships from countries 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 UP Index and S&P 500 index) and trial access to all charts.
