The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, lost 1.42% last week. US stocks represented by the S&P 500 (SPX) index gained 0.94%.
LNG shipping stocks continued in the same mode as the week before. Rising stocks were rising and declining stock continued losing.
The biggest gain was all Japanese stocks. NYK line (TSE:9101), MOL (TSE:9104) and “K” line (TSE:9107) added 32%, 21% and 10% in one week. However, the last regular transport showed the weakness of the Japanese clinging to steam propulsion. Fleets based on this type of propulsion bring significantly lower income than modern drives of the X-DF type or even a generation older DFDE / TFDE. While the weight share in the UP Index for the NYK line decreased, for the MOL, which has a newer fleet, increased.
The largest declines were again recorded by the US limited partnerships Höegh LNG Partners (NYSE: HMLP) and Teekay LNG Partners (NYSE: TGP), which both lost 8.8%. They were followed by GasLog Partners (NYSE: GLOP), which wrote off 6%.
The following picture provides a comparison of the UP Index and S&P 500 development.
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