The UP World LNG Shipping Index, the world’s only stock index focused on companies in the LNG shipping industry, added 3.32 points, or over 4.40%, last week. US stocks represented by the S&P 500 (SPX) index gained 1.83%.
The double-digit increase in the share price was no exception in the first weeks of this year, on the contrary. Continued interest in LNG in conjunction with rising spot rental prices has led to strong growth in shares of companies in the LNG shipping industry.
Höegh LNG Holding Ltd. (OL:HLNG) recorded a rise in prices of more than 30%. GasLog Ltd. (NYSE:GLOG) gained more than 24%. BP plc (NYSE:BP), a new constituent in the UP World LNG Shipping Index, also grew by almost 20%. Awilco LNG ASA (OL:ALNG), Korea Line Corporation (KS:005880), Exmar NV (BR:EXM), Golar LNG Ltd. (NYSE:GLNG) and Flex LNG Ltd. (NYSE:FLNG were also close to this border.
The only company whose share price fell was the Malaysian company MISC Berhad (KL:3816) with a decrease of 1.7%.
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 20 companies and partnerships from countries all over the world like the USA, Qatar, Japan, Norway, South Korea or Malaysia. The index covers 65 % of the world LNG carrier fleet.
Source: Hellenic Shipping News