LNG transport index falls but does not affect a successful year


The UP World LNG Shipping Index (UPI), the world’s only stock index focused on LNG shipping companies, lost 1.46% last week. US. Stocks represented by the S&P 500 Index (SPX) fall 0.14%, however, it fails to overshadow a successful year, says UP-indices.com

The year 2022 ended with the stocks of shipping companies, represented by the UP World LNG Shipping Index, falling, but it was a successful year for them. The UP index gained 45%. Furthermore, the index peaked at the end of November and December, and the sector takes advantage of the coincidence of two strong growth forces: the growth of LNG demand not only in Europe and the peak of the heating season.

Excelerate Energy (NASDAQ: EE) and Flex LNG (NYSE/OSE: FLNG) were the largest contributors to the decline in the UP Index, which lost 5.3 and 5.2 percent. GasLog Partners (NYSE: GLOP) lost 3.9% and the “K” line (TSE: 9107) lost 3.1%.

Dynagas LNG Partners (NYSE: DLNG) was the biggest gainer, 6.5%. Malaysia’s MISC (KLSE: 3816) appears to have opted for growth, gaining 3.3%. Chevron (NYSE: CVX) gained 1.2%.

Quarterly results due to be announced in a few weeks should continue to reflect the importance of the sector.

The UP World LNG Shipping Index is a family of rules-based stock indices designed to display and measure the performance of global publicly traded companies involved in the shipping of liquefied natural gas (LNG). This unique index covers 19 companies and associations around the world, including the US, Qatar, Japan, Norway, South Korea, and Malaysia. The index covers more than 65% of the global fleet of LNG carriers. 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: Hellenic Shipping News UP-Indices.com

Source Hellenic Shipping News

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