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LNG shipping stocks: The growth of shares was surpassed by the news of the sale of GasLog Ltd.

Tuesday, 23 February 2021 | 13:00

The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, gained 1.1 points, or nearly 1.45%, last week. US stocks represented by the S&P 500 (SPX) index lost 0.71%.

The UP index surpassed the SPX mainly due to Asian companies, while those listed in the US rather lost. But the news of the week is today’s announced planned purchase of GasLog Ltd. by BlackRock for $ 5.80.

This is the second major purchase in this market after the acquisition of Golar LNG Partners (GMLP) by New Fortress Energy.

The shares of two companies from Japan grew the most. The “K” Line (9107.T) added 8.4% and Mitsui O.S.K. Lines grew by 8.3%. In third place was the Malaysian company MISC Berhad (3816.KL) with a profit of 5.3%. Another Japanese company, NYK Lines (9101.T), added 4.1%.

The oil and gas companies BP p.l.c and Chevron also performed well, adding 4.4 and 4.4, respectively. 3.5%. Royal Dutch Shell contributed to the growth of the UP Index with its 2.5% rise.

On the other hand, shares of Golar LNG Limited (GLNG, -3.8%), GasLog Partners LP (GLOP, -3.4%) and Qatar Gas Transport Company (QGTS.QA, -2.5%) fell.

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

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 20 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.


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