For the week ending on 31 May 2024, the Drewry Port Equity Index (DPEI) saw a decrease of 2.3% compared to the previous week, underperforming the S&P 500, which experienced a smaller decline of 0.5%. During the same period, Global Terminal Operators (GTOs) declined by 3.1%, and Regional Terminal Operators (RTOs) fell by 0.8%. Year-to-date (YTD), the DPEI has increased by 11.2%, as GTOs have risen17.0%, and RTOs have grown 2.1%, compared to the broader S&P 500’s gain of 10.6%

Drewry Container Shipping Equity Index increases 1.3%

During the week ending on 31 May, the Drewry Container Equity Index increased 1.3% WoW while spot rates kept increasing albeit with a slower momentum and WCI increased 3.8% WoW amid expectations of an earlier than expected peak season, congestion at Asian ports and bad weather conditions imbuing uncertainty sentiments in the freight market. In contrast the S&P edged down 0.5% this week.

Drewry Drybulk Shipping Equity Index declines 0.5%

For the week ending 31 May 2024, the Drewry Dry Bulk Equity Index declined 0.5% WoW, similar to S&P 500 which also declined 0.5% WoW. When considering YTD performance, the index remains in the green(+27.3% YTD) due to higher than expected TCE rates, outperforming the S&P 500 which rose 10.6% during the same period.

Drewry Crude Tanker Shipping Equity Index declines 0.1%

For the week ending 31 May 2024, the Drewry Crude Tanker Equity Index was steady amid weaker VLCC market conditions. The Russell 2000 was also flat this week. Overall, the index posted a gain of 22.8% YTD on the back of firm spot rates of crude carriers amid the crisis in the Middle East and has substantially outperformed the Russell 2000, which increased 2.1% over the same period.

Drewry Product Tanker Shipping Equity Index increases 0.6%

For the week ending 31 May 2024, the Drewry Product Tanker Equity Index was up 0.6% (vs. flat Russell 2000) as the average earnings of product tankers were firm. Overall, the index surged 32.2% YTD and has substantially outperformed the Russell 2000, which increased 2.1% over the same period.

Drewry LNG Shipping Equity Index declines 3.5%

For the week ending 31 May 2024, the Drewry LNG Shipping Equity Index declined 3.5% as stock prices of coverage companies softened. The index is up 13.3% YTD (vs. 10.6% increase in S&P 500), mainly due to the surge in Nakilat share prices following the company winning multiple LNG ship newbuild orders from QatarEnergy. Golar LNG share price has benefited from interest in new FLNG projects.

Drewry LPG Shipping Equity Index increases 4.5%

For the week ending 31 May, the Drewry LPG Shipping Equity Index increased 4.5% WoW as companies reported robust 1Q24 results which led to a rise in stock prices. When comparing YTD performance, the Drewry LPG Shipping Equity Index has increased 16.6% YTD, outperforming the Russell 2000 which rose 2.1% over the same time.
Source: Drewry Maritime Financial Research