The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 4.63% last week. US stocks represented by the S&P 500 (SPX) index lost 0.97%.
The correction of stock prices continue. At the beginning of last week, we brought a comparison of the UP Index with the Dow Jones Transportation Average as the Chart of the Week on our website. Both charts pointed down in the same way. The end of last week finally brought a decline of the general S&P 500 index.
The following picture provides a comparison of the development of the UP Index and S&P 500 charts.
The biggest loss suffered Golar LNG Limited (NYSE:GLNG) as it lost slightly over 10%. On the other hand, it was the only two-digit loss last week. Golar was followed by oil and natural gas companies BP plc (NYSE:BP, -8.2%) and Royal Dutch Shell (NYSE:RDS-A, -6.3%). Qatar Gas Transport Company Ltd. (Nakilat, QSE:QGTS) also lost over 5%.
The only “rising” stock was Malaysian MISC Berhad (KLSE:3816) with +0.4%.
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 18 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.
Source: UP-Indices.com