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LNG shipping stocks: Declines continue

Tuesday, 27 September 2022 | 13:00

The UP World LNG Shipping Index, the world’s only stock index focused on LNG shipping companies, lost 8.06% last week. U.S. stocks represented by the S&P 500 index lost 4.65%.

LNG shipping stocks continue to decline as all stock markets do. Both UP Index and S&P 500 are close to support, but the momentum of decline might override, and the decrease would continue. For the UP Index, this would mean finishing the up trend. But we must remember that LNG is now a crucial energy source and that winter is coming.

A lot of two-digit losers led to the decline of the UP Index. The biggest loss marked Awilco LNG (OSE: ALNG), which was one of the only two gainers a week before. Now it lost over 16%. GasLog Partners (NYSE: GLOP) lost 14%, and New Fortress Energy (NYQ: NFE) wrote off 12%.

Flex LNG (NYSE / OSE: FLNG) lost 11%, and trio Golar LNG (NYQ: GLNG), Dynagas LNG Partners (NYSE: DLNG), and CoolCo (OSE: COOL) lost 10%.

Then followed bp (NYSE: BP), which lost over 9%, SHELL (NYSE: SHEL) with a loss of around 8%, Excelerate Energy (NYQ: EE), which lost 8%, and Chevron (NYSE: CVX), that lost 7,5%.

As the main U.S. declines came on Friday, the Japanese trio could soften all the declines as “K” Line (TSE: 9107) lost 4%, NYK Line (TSE: 9101) declined by 1.8%, and MOL lost only 0.9%.

We can close the “red reading” with Qatar Gas Transport Company – Nakilat (QSE: QGTS), which lost 3.7%. Last week was not easy for anybody on the market.

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 the maritime transport of liquefied natural gas (LNG). This unique index covers 19 companies and partnerships worldwide, like the USA, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers over 65% of the world’s LNG carrier fleet. 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

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