As of today the Oslo Børs Shipping Index (OBSHX) is being calculated and distributed in real time. You will also be able to trade SHIPPING DNM, an exchange traded product that tracks the new tradable index and is as easy to trade as shares.
Oslo Børs is one of the world’s leading stock exchanges for shipping. The new shipping index will make it easy for investors to gain exposure to a sector that is important for Oslo Børs as well as on a wider Norwegian and global perspective.
The new index has been designed to be investable so that it is easy for banks and fund managers to offer products and funds that track the index.
At its launch the OBSHX will consist of 13 shares with a total market value of NOK 20.6 billion as of the close of trading last Friday – see the table below.
The index consists of shipping companies listed on Oslo Børs in GICS sectors 10102040 (Oil & Gas Storage & Transportation) and 20303010 (Marine). Companies have to meet a liquidity requirement to be included in the index, which is that a company’s shares must have been traded on at least 90% of days during the last six months. The index will be revised twice a year and is free-float adjusted, which is to say that it is the number of free-floating shares that determines a company’s weighting in the index.
The new shipping index is similar to the OBSFX seafood index, which was launched in April this year. The exchange traded products that track this index have been well received, with SEAFOOD DNM standing out as one of the most traded ETNs on Oslo Børs. ETNs (Exchange Traded Notes) are exchange traded securities that are as easy to trade as shares. The ETNs that follow the shipping and seafood indices have been listed by DNB.
The Oslo Børs Shipping Index (OBSHX) at30 September 2016:
|market cap (NOK mill)||weight|
|Höegh LNG Holdings||3,882||18.81 %|
|Wilh. Wilhelmsen Holding ser. A||2,335||11.31 %|
|BW LPG||1,711||8.29 %|
|Wilh. Wilhelmsen Holding ser. B||1,609||7.80 %|
|Wilh. Wilhelmsen||1,584||7.68 %|
|Tanker Investments||1,065||5.16 %|
|American Shipping Company||843||4.08 %|
|Odfjell ser. A||813||3.94 %|
|Golden Ocean Group||533||2.58 %|
|Avance Gas Holding||528||2.56 %|
|Jinhui Shipping and Transportation||181||0.88 %|
We already have a shipping index, the OSLSHX, which is part of our focus on strong sectors (energy, shipping and seafood). However, this sector index was not designed to be tradable and investable, and is only intended to be an indicator of the shipping sector’s performance on Oslo Børs and Oslo Axess.