LNG stocks tank on Wall Street

摘要

Although liquefied natural gas (LNG) equities have been caught in the stock-market crossfire, vessel owners remain bullish. There has been a "panic-induced sell-off of every LNG shipping stock over the last few weeks", noted Evercore ISI analyst Jon Chappell. This rout came to a head on 28 September, when shares of Golar LNG and GasLog each fell 12％. Both hit new 52-week lows that day: Golar down 62％ from its 52-week high and GasLog down 64％. "While there has been no significant change in the LNG shipping market to drive this weakness, investor sentiment towards LNG-weighted stocks has become increasingly negative," said Clarksons Platou Securities analyst Omar Nokta in a 29 September research note.