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LNG shipping stocks: Volatility with new highs

Tuesday, 08 June 2021 | 12:00

The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, gained more than 1 point or more than 1.15% last week. US stocks represented by the S&P 500 (SPX) index lost 0.61%.

Last week was more colorful than the others as many of the constituents of the UP Index moved more than 2%. Good news is that many of the rising stocks move above previous highs.

Chart below shows both UP World LNG Shipping Index and S&P 500.

The biggest gainer was Belgian Exmar NV (BSE:EXM). Stocks of this company added more than 11% and are back in the area before the problems with the contract for FLNG Tango last June.

In second and third place are Japanese companies NYK line (TSE:9101) and MOL (TSE:9104) with 7.7 and 6.4%.

Awilco (OSE:ALNG) lost 6.9% which was the biggest loss last week. Flex LNG (NYSE:FLNG) corrected its previous growth and lost 4.7% after dividend ex-date. Third biggest decline belongs to South Korean SM KLC (KRX:005880).

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 world unique index covers 18 companies and partnerships from countries all over the world like the USA, Qatar, Japan, Norway, South Korea or Malaysia. The index covers more than 65 % of the world LNG carrier fleet.
Source: UP-Indices.com

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