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Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG shipping companies. The S&P 500 (SPX) index, representing U.S. stocks, also experienced a loss of 0.16%. You can find both indices in the image below.
The UPI is on the rise and has broken through the second-to-last resistance line formed in February of this year. Now, it is the third attempt to break the highest border, but previous attempts did not look as promising and did not reach such high levels. The success of the UPI is mainly due to the strong performance of Asian companies. While European and American shares mostly declined or hovered around zero, Asian companies were growing very strongly.
NYK Line (TSE: 9101) grew the most, with a 6.1% increase that surpassed the highs from the beginning of this year. The second most profitable company was the sole American representative, Golar LNG (NASDAQ: GLNG), which grew by 5.2% and once again broke out of the previous first support ledge. However, the change in the uptrend is still far away because, from the current price of $23.77, there are over six dollars left to the upper limit of the bracket.
Korean SM KLC (KRX: 005880) added exactly five percent – a significant increase after a long decline. This growth led to a close touch of the bottom of the range, from which the stock fell out in late August. Meanwhile, Japanese company M.O.L. (TSE: 9104) has continued to rise since breaking its previous highs in August, adding another 4.2% last week.
Last but not least, Qatar’s Nakilat (QSE: QGTS) contributed to the growth of UPI by adding 3.2% to its shares. But even this company still has a long way to go to overcome the previous highs.
Although the last Japanese representative of the “K” line (TSE: 9107) added just under two percent, it is also very close to the historical highs of 2007. Finally, we will mention one representative of European-American companies. It is Shell (NYSE: SHEL), which rose by 2.3% and confirmed a breakthrough above this year’s resistance.
Of the companies that lost value, we will only mention Flex LNG (NYSE / OSE: FLEX), which lost 2.4% and closed below $30, just on the lowest part of the support area. So even this company can rise, especially with the high contract coverage.
To sum up, the growth of UPI is primarily driven by Asian stocks, particularly Japanese stocks. This week, the Qatari representative joined the growth, which is the largest company in our index. Most of the other companies are in a support area from where they can grow due to the upcoming winter season.
UP World LNG Shipping Index, established in 2020, is a rules-based stock index family designed to show and measure the performance of worldwide publicly traded companies involved in the maritime transport of liquefied natural gas (LNG).
This unique index covers 18 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
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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
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