- UP indices lost 11 pts thanks to GLNG.
- HMLP stabilised, preferred above $27.
- A few words about Dynagas.
Values of UP LNG Shipping Indices for 30th August
|UP Total Return Index||-143.64|
|UP Simple Price Index||-405.26|
|UP Preferred Simple Price Index||-67.72|
|UP Volume Trend Index||2917.37|
UP indices finished 11 points lower, mainly due to Golar LNG (GLNG) earning call. It finished 5 % lower. Other stocks finished between +/- 0.5 %.
Volume was also lower, but still above average. The most traded stock was GLNG, while Höegh LNG Partners (HMLP) stabilized.
As I said this week is important for future of HMLP price, let´s look at it now. It wasn´t bad trading season last week. Price lost only 0.9 % and volume was only average. But price finished below last week and this area was full buyers in past. Now they only stopped the price but weren´t able to push it up. It seem to me like a consensus between buyers and sellers.
HMLP weekly chart (source: author´s Amibroker platform)
Similar situation was on both GasLogs. Look at GLOG chart.
GLOG weekly chart (source: author´s Amibroker platform)
During last three weeks (last 3 candles) there are only buyers tails ("shadows" below the candle).
The most rising stock of last week was Dynagas LNG Partners (DLNG). On Thursday it was trading at $1.37 on average volume, on Friday finished at $1.29. But we are still waiting for Q2 earnings and mainly to refinance news.
If you are asking who is trading this poor stock, here is a CNN chart (data to 6/30/19, but last updated on August).
At some discussion at the end of 2018 I was defending long contracts of this company and I still like this, especially when the revenue is slightly rising. Now spot players are trying to fix the contracts at about $84.000/day (sure, much more than DLNG has), but previous charters were at $50-60.000. And we have seen what these spot/prices done.
Back to UP LNG Shipping Indices. Whole market finished higher and UP indices lower, this is completely opposite to last week.
And preferred stocks rose again, but very little.
Dynagases were losing (not positive for my DLNG opinion), but GasLog (GLOG) preferred is above $27. Investors are feeling very safe with this preferred and similar to HMLP´s preferred. Look at daily chart, there is nice buyer´s tail.
Analyst's Disclosure: I am/we are long DLNG, GMLP, GLOG.
I also have small positions for study purposes in each of seven stocks included in UP LNG Shipping Indices.
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