The decline continues furiously. Maybe it’s Christmas, maybe algoritmic trading. English comment will be available on seeking Alpha.
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Years ago, on one Czech financial website, in a discussion on the article on Quantum analysis and its perspectives, a substantive remark appeared: “Just to not mean that they are studying oodles (quantum in Czech) of nonsense.” On author’s scorn to hot news we can remember these days, when one of the culprits of steep sales are called algorithmic business models.
In 50. week continued the decline of all shares included in UP LNG shipping indices, indices dropped by more than 73 points. In addition to the markets cursed DLNG lost mainly GLOP, GLOG, GLNG and HMLP. For GLNG, we must count on the dividend. Prices are starting to get to absurdly low level because the LNG market has begun to decline mostly already during this summer or sooner.
There was, of course, a break of the support/resist level, but it remains to be repeated that it is the weight of the moment and the negative situation on the whole market, to which the shares in downtrend react naturally more willing. Traded volume is also decreasing, for all titles except GLOG, GLOP and GMLP.
LNG highlights of the past week:
- Latvia adopts US LNG
- Norwegian Flex LNG launches new tanker
- DSME Shipyards received another contract for LNG Tankers
- Shell expects to run FLNG Prelude by the end of this year
- Poland received another shipment of us LNG
All graphs can be found on a separate page.
Current UP indexes UP to 17. December 2018.
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Comparison of development UP Total Return Shipping index LNG with the popular ETF SPY.
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