The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, gained 3.3% last week. U.S. stocks represented by the S&P 500 Index gained 0.06%.

The second quarter is regularly the weakest part of the year for LNG shippers as the winter season ends. This year it will be different as European countries want to diversify their gas suppliers from Russia. Countries that built the infrastructure can feel satisfaction for the “unnecessary” expenses. Lithuania is the first European country that ended its supply from Russia. Poland is also independent of Russia.

U.S. listed stocks remain the leading up movers of the UP Index. Last week’s biggest gainers are New Fortress Energy (Nasdaq: NFE) and Höegh LNG Partners (NYSE: HMLP). NFE gained 17.8%, and HMLP raised by nearly 17%. Dynagas LNG Partners (NYSE: DLNG) increased the price of its units by 8.9%.

Awilco LNG ASA (OSE: ALNG) added 6.4%. And then only GasLog Partners (NYSE: GLOP) and Golar LNG (Nasdaq: GLNG) added a few percent: GLOP +3.8% and GLNG +2.4%.

NYK Line (TSE: 9101) lost 9.5% and Mitsui O.S.K. Lines (TSE: 9104) decreased by 5.6%. BP (NYSE: BP) and Chevron (NYSE: CVX) declined by 3.9 resp. 3%.

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 17 companies and partnerships from countries worldwide like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers more than 65% of the world’s LNG carrier fleet.
Source: UP-Indices.com