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Korean dry-bulk and tanker shipping company, part of Harim Group, transporting commodities like grain, coal and iron ore globally.
Korean dry-bulk and tanker shipping company, part of Harim Group, transporting commodities like grain, coal and iron ore globally.
Mixes long-term contracts to carry bulk cargoes, such as ore and coal for Korean steelmakers and power utilities, with spot-market trading, so part of its income is steadier than shipping rates alone would give. It uses many ships chartered in from other owners. Harim Group, a Korean agribusiness group, took control in 2015 after the shipper's insolvency.
Moat: none (scale). Commodity shipping business; freight rates are set by the global shipping cycle, with little pricing power.
Headquarters: Seoul, South Korea · Founded: 1966 · Employees: 1,326
Size PanOcean (028670.KS) is a South Korea Industrials company (Marine Shipping) with a market value of $1.91B, the 139th largest of 495 South Korea companies the cockpit tracks. Shares closed at ₩4,850 on 6 Nov 2026.
Performance Over six months the shares fell 12.4%, against +3.9% for the median peer and -24.5% for the South Korea market (cap-weighted) — 4th lowest of 21 in its peer set.
Growth Revenue grew 24.2% over the last twelve months (peer median +7.3%); the operating margin is 9.5% (peer median 27.9%).
Valuation It trades at 5.0× forward earnings against a peer median of 8.0× (3rd cheapest of 19).
Capital Return on invested capital runs 3.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₩7.00T | ₩5.43T | ₩5.16T | ₩4.36T | ₩6.42T |
| Revenue growth | — | +5% | +18% | -32% | — |
| Gross profit | n/a | ₩613B | ₩583B | ₩500B | ₩900B |
| EBITDA | n/a | ₩1.01T | ₩940B | ₩876B | ₩1.45T |
| Net income | ₩465B | ₩301B | ₩268B | ₩245B | ₩677B |
| Free cash flow | n/a | ₩255B | ₩78.0B | ₩336B | ₩1.08T |
| Capital expenditure | n/a | ₩493B | ₩639B | ₩461B | ₩362B |
| Total debt | n/a | ₩4.49T | ₩3.86T | ₩2.44T | ₩2.34T |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PanOcean 028670.KS | $1.91B | -12% | +24% | 9% | 5.0× | n/a |
| HMM 011200.KS | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% |
| Star Bulk Carriers SBLK | $2.99B | 0% | +6% | 28% | 5.7× | -0.1% |
| Korea Line 005880.KS | $420M | -30% | -19% | 21% | 2.9× | -12.2% |
| Pacific Basin Shipping 2343.HK | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% |
| Genco Shipping & Trading GNK | $1.13B | 0% | +26% | 17% | 10.2× | n/a |
| Mitsui O.s.k. Lines 9104.T | $15.0B | +10% | +20% | 6% | 7.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 028670.KS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -21.9% | -9.3% | 2nd lowest of 21 |
| 6-month return | -12.4% | +3.9% | 4th lowest of 21 |
| Distance from 52-week high | -38.1% | -16.4% | 2nd lowest of 21 |
| Revenue growth (TTM) | +24.2% | +7.3% | highest of 20 |
| Operating margin | 9.5% | 27.9% | 5th lowest of 21 |
| Forward P/E | 5.0× | 8.0× | 3rd cheapest of 19 |
| ROIC minus cost of capital | +3.5 pp | +1.8 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PanOcean 028670.KS | South Korea | $1.91B | -12% | +24% | 9% | 5.0× | n/a | n/a |
| Clarkson CKN.L | United Kingdom | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% | +12.0% |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| Wisdom Marine Lines 2637.TW | Taiwan | $2.13B | +28% | +10% | 33% | 9.1× | -1.8% | +7.2% |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| Great Eastern Shipping GESHIP.NS | India | $2.16B | -8% | +24% | 42% | 5.1× | 8.2% | +10.1% |
| Pacific Basin Shipping 2343.HK | Hong Kong | $2.22B | +6% | -6% | 6% | 9.0× | 7.9% | +7.3% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |
| Navios Maritime Partners LP NMM | United States | $2.42B | +14% | +19% | 39% | 3.9× | n/a | n/a |
| T.S. Lines 2510.HK | Hong Kong | $2.48B | +38% | -4% | 19% | 5.8× | -6.9% | +9.8% |
| Dampskibsselskabet NORDEN A/S DNORD.CO | Denmark | $1.46B | +15% | +7% | 3% | 9.6× | n/a | n/a |
| Nanjing Tanker 601975.SS | China | $2.50B | -21% | +12% | 26% | 9.0× | -8.4% | +7.6% |
| Capital Tankers CAPT.OL | Norway | $2.57B | +45% | n/a | 37% | 7.3× | n/a | n/a |
| Global Ship Lease GSL | United States | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% | +22.1% |
| Solstad Maritime SOMA.OL | Norway | $1.36B | -6% | +17% | 40% | 5.5× | -2.5% | +22.7% |
| Danaos DAC | United States | $2.70B | +10% | +2% | 48% | 5.3× | -8.7% | +17.7% |