The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 0.85% last week. U.S. stocks represented by the S&P 500 Index lost 1.58%.
Most constituents of the UP Index declined last week. Only Asian stocks continued rising – “K” Line (TSE: 9107) gained 6.3%, NYK Line (TSE: 9101) rose 5.3%, MOL (TSE: 9104) added 2.8%, and Korean SM KLC (KRX: 005880) gained 2.7%. And also, Qatar’s Nakilat (QSE: QGTS) added 1.9%.
A lot of the constituents were influenced by the nervosity of the markets and lost. The deepest decline – 10% – suffered Norwegian Awilco LNG Shipping (OSE: ALNG). Exmar, now the minor constituent of the UP Index, lost 5.3%. Oil and gas drillers Chevron (NYSE: CVX) and Shell (NYSE: SHEL) lost nearly 4%, bp (NYSE: BP) declined 4.4%. But their weight in the UP Index is limited to their LNG shipping revenues. Flex LNG (NYSE: FLNG) lost 0.2% even after strong 4Q results.
U.S. listed MLPs lost from 1.5% (Dynagas LNG Partners, NYSE: DLNG) to 3.6% (GasLog Partners, NYSE: GLOP). Russian PAO Sovcomflot (ME: FLOT) lost 3.9% too.
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 more than 65% of the world’s LNG carrier fleet.
Source: UP-Indices.com