The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost more than 1.85 points or nearly 2% last week. US stocks represented by the S&P 500 (SPX) index lost 1.91%. After four weeks of continuous rising the UP Index corrected.

On June 18, 2021 the weight of GasLog Ltd. was decreased to 0% as the shares of the company were delisted from the NYSE. GasLog Ltd. stays as the constituent of the UP Index till the next regular rebalance in July 2021. The main constituents of the UP Index are: Qatar Gas Transport Company (Nakilat (QSE:QGTS) with 20%, Golar LNG Limited (NYSE:GLNG) with 19.89 and Teekay LNG Partners L.P. (NYSE:TGP) with 11.94. Look at the new weight of all constituents.

The main gainer was one of the smallest constituents, the Norwegian Awilco LNG ASA (OSE:ALNG) that rose over 5%. Korean SM KLC (KRX:005880) added 3.6%.

There were more losing companies than rising last week. One reason was the option expiration on Friday. The biggest loss suffered was Teekay LNG Partners L.P., which declined for 5.6% followed by BP plc (NYSE:BP, -5.2%) and Chevron (NYSE:CVX, -4.5%).
Source: UP-Indices.com