The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, gained 0.47% last week. U.S. stocks represented by the S&P 500 (SPX) index lost 0.66%.
The UP Index strengthened by roughly one point, but nervousness about the American stock markets influenced it. After all, the S&P 500 index is still in a downtrend or moves sideways at best.
In a difficult moment, the largest representative in the UP index, Qatar’s Nakilat (QSE: QGTS), came to help again, adding 6.1%. Likewise, Awilco LNG (OSE: ALNG) rose by 4%.
All three Japanese companies also contributed to the growth: NYK Line (TSE: 9101) rose 4.1%, MOL (TSE: 9104) added 3.6%, and “K” line contributed 1.9% (TSE: 9107).
Golar LNG (NASDAQ: GLNG) gained 2.8%, and Flex LNG (NYSE / OSE: FLNG) gained 2.1%. Chevron (NYSE: CVX) and Exmar (BSE: EXM) also maintained nearly two percent growth.
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On the contrary, the effort to decrease the UP Index was led by Dynagas LNG (NYSE: DLNG), which lost over 9%. New Fortress Energy (NASDAQ: NFE) was close behind, which lost 8.9%. The third loser was Excelerate Energy (NASDAQ: EE). It wrote off four percent.
As a result, there were more rising stocks than declining ones, but they needed much effort to keep the UP Index growing. However, the upcoming results for the last quarter of 2022 should be good and support the growth of shares in this sector.
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.
Source: UP-Indices.com
