The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 4.37% last week. However, U.S. stocks represented by the S&P 500 (SPX) index gained 1.43%. A week before, the results were -4.05% for UPI and -4.55% for SPX.
The last two weeks were difficult for all stocks, and the UP Index was no exception: It lost eight percent. The first losing week came after three rising weeks, and a minor correction was awaited. However, the second decline was caused by external circumstances, so the rising trend is still the same.
New Fortress Energy (NASDAQ: NFE) lost about 25% in the past two weeks, followed by Capital Product Partners (NYSE: CPLP), which lost a slide of less than 20%. Excelerate Energy (NASDAQ: EE) declined by about 15%.
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Japanese stocks suffered only minor losses, and some were able to rise. Kawasaki Kisen Kaisha (TSE: 9107) gained 2.1% two weeks before, and Mitsui O.S.K. Lines (TSE: 9104) gained 0.3% last week. These were the only gains in the previous two weeks.
Companies from the UP Index are pushed down by the market sentiment. The trend remains rising.
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.