The UP World LNG Shipping Index, the world’s only stock index focused on LNG companies, added 2.42% last week. US stocks represented by the S&P 500 Index lost 0.57%.
The UP Index lacks less than two points to beat 100 points. At the same time, for the second week in a row, the UP Index has the opposite direction than the S&P 500. It is therefore a question of whether the starting value will be exceeded.
By 33% strengthened the Norwegian Awilco LNG ASA (OSE: ALNG). As this company has only two LNG tankers, its weight is only 0.16%.
Second in line is the Japanese company Kawasaki Kisen Kaisha, Ltd., also known as the “K” line (TSE: 9107). Its shares rose for 23% with a weight in the UP index of 2.18%.
Another Norwegian company, Flex LNG Ltd., whose shares are also listed in the USA (NYSE: FLNG), boasts a weight in the UP Index of over 6%. Shares strengthened by 4.9%.
Only two constituents of the UP Index lost more than 1%. Both are US-listed partnerships: Teekay LNG Partners LP (NYSE: TGP) and Höegh LNG Partners LP (NYSE: HMLP). The first lost 6.3% and the second 1.9%. For interest, we also present their current weight in the UP Index: 1.5% and 11.42%. The weight of all components of the UP World LNG Shipping Index can be found on the index page.
The following picture provides a comparison of the UP Index and S&P 500 development.
Source: UP-Indices.com
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 17 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