Last week, the UP World LNG Shipping Index (UPI) lost 0.12 points or 0.08%, closing at 162.06 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, experienced a gain of 1.17%. You can find both indices in the image below.
Week 4-2024: Chart of the UP World LNG Shipping Index with S&P 500 (Source: UP-Indices.com)
There were five rising constituents of UPI last week, and the majority were from Japan. The whole index didn´t move and stayed above the previous high.
The most growth “K” line (TSE: 9107) pushing its price for 11.5% higher. The other major gainers were Mitsui O.S.K. Lines (TSE: 9104) and NYK Line (TSE: 9101), which grew by 6.5% and 5.7%, respectively. To this group belongs also Capital Product Partners (NASDAQ: CPLP), which continues the uptrend with a gain of 6.2%.
Exmar (BSE: EXM) continues its sideway and gains 1.9%. Excelerate Energy (NASDAQ: EE) moved up just 1.4% but turned the week’s decline into a gain, which might be a turnover for this stock.
New Fortress Energy (NASDAQ: NFE) led the group of declining stocks, which lost nearly 10% and returned to a previous range. A similar pattern has also happened to Shell (NYSE: SHEL); its loss was “only” 4.2%, but its drop meant an end to the previous rise attempt. Two other gas and oil producers – Chevron (NYSE: CVX) and BP (NYSE: BP) lost around 3%. As CVX is just on the support, BP closed below it. Awilco LNG (OSE: ALNG), losing 3.5%, also closed below the support line on the weekly chart. Golar LNG (NASDAQ: GLNG) lost 5.1% but still moves in a range. Same did Flex LNG (NYSE/OSE: FLNG), which declined by 2.3%.
In summary, the majority of UPI´s constituents declined last week. Only a few constituents are in an uptrend: Japanese trio and CPLP. EE might start its growth now. The rest move in brackets or started a downtrend.
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.
Source: UP-Indices.com, By Tomas Novotny