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Crude oil and LNG tanker operator, one of China's largest, transporting energy cargoes for domestic and global customers.
Crude oil and LNG tanker operator, one of China's largest, transporting energy cargoes for domestic and global customers.
Is paid freight per voyage or charter hire per day, with much of its crude fleet working for Chinese state oil companies such as Sinopec and CNPC and the rest on the spot market, so freight rates swing earnings. LNG carriers are chartered on long-term contracts, which are steadier. COSCO Shipping group, a state-owned company, controls it.
Moat: none (scale). Large tanker fleet but subject to highly cyclical, commoditised freight-rate markets.
Headquarters: Shanghai, China · Founded: 2005 · Employees: 7,979
Size COSCO SHIPPING Energy Transportation (600026.SS) is a China Industrials company (Marine Shipping) with a market value of $13.2B, the 182nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥17.10 on 6 Nov 2026.
Performance Over six months the shares fell 20.8%, against +16.5% for the median peer and -16.4% for the China market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 38.1% over the last twelve months (peer median -1.6%); the operating margin is 33.1% (peer median 13.8%).
Valuation It trades at 6.1× forward earnings against a peer median of 9.0× (6th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -8% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 7.5 points above its cost of capital (5.0% WACC).
Next results Next results expected around 31 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥32.0B | CN¥23.8B | CN¥23.2B | CN¥22.6B | CN¥18.6B |
| Revenue growth | — | +3% | +3% | +22% | — |
| Gross profit | CN¥15.7B | CN¥6.11B | CN¥6.19B | CN¥6.50B | CN¥3.32B |
| EBITDA | n/a | CN¥8.75B | CN¥8.62B | CN¥7.53B | CN¥5.19B |
| Net income | CN¥8.70B | CN¥4.04B | CN¥4.04B | CN¥3.38B | CN¥1.46B |
| Free cash flow | CN¥2.48B | CN¥2.58B | CN¥1.58B | CN¥3.93B | CN¥381M |
| Capital expenditure | CN¥11.4B | CN¥5.64B | CN¥7.88B | CN¥5.72B | CN¥4.45B |
| Total debt | CN¥40.8B | CN¥35.4B | CN¥36.4B | CN¥30.1B | CN¥30.3B |
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 |
|---|---|---|---|---|---|---|
| COSCO SHIPPING Energy Transportation 600026.SS | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% |
| China Merchants Energy Shipping 601872.SS | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% |
| Frontline FRO | $10.1B | +15% | +49% | 49% | 4.2× | -12.5% |
| DHT DHT | $3.33B | +9% | +39% | 57% | 3.8× | -11.7% |
| International Seaways INSW | $5.01B | +7% | +58% | 56% | 3.5× | -14.8% |
| Teekay Tankers TNK | $2.97B | +3% | +19% | 39% | 3.5× | n/a |
| Cmb.tech CMBT | $4.83B | +12% | +92% | 30% | 7.2× | n/a |
| Okeanis Eco Tankers ECO | $3.19B | +48% | +105% | 62% | 3.9× | -13.7% |
| Nordic American Tankers NAT | $1.41B | +13% | +29% | 29% | 7.7× | -3.4% |
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 | 600026.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -24.4% | -3.7% | 2nd lowest of 21 |
| 6-month return | -20.8% | +16.5% | lowest of 21 |
| Distance from 52-week high | -37.1% | -14.8% | lowest of 21 |
| Revenue growth (TTM) | +38.1% | -1.6% | 2nd highest of 21 |
| Operating margin | 33.1% | 13.8% | 3rd highest of 21 |
| Forward P/E | 6.1× | 9.0× | 6th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -8.2% | -1.8% | 6th least demanding of 18 |
| Growth delivered (Del g) | +7.8% | +9.2% | 7th lowest of 18 |
| Hurdle (Req g minus delivered) | -16.0 pp | -13.0 pp | 6th least demanding of 18 |
| ROIC minus cost of capital | +7.5 pp | +1.8 pp | 7th highest of 21 |
| Net debt / EBITDA | 1.7× | 0.4× | 4th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| COSCO SHIPPING Energy Transportation 600026.SS | China | $13.2B | -21% | +38% | 33% | 6.1× | -8.2% | +7.8% |
| OOIL 0316.HK | Hong Kong | $12.8B | +10% | -8% | 10% | 5.9× | -2.3% | +3.6% |
| Mitsui O.s.k. Lines 9104.T | Japan | $15.0B | +10% | +20% | 6% | 7.3× | n/a | n/a |
| HMM 011200.KS | South Korea | $15.3B | +8% | -5% | 11% | 9.7× | -1.8% | +11.2% |
| Kawasaki Kisen Kaisha 9107.T | Japan | $11.0B | +17% | +11% | 8% | 9.4× | 7.3% | +10.2% |
| SITC International 1308.HK | Hong Kong | $15.8B | +34% | +5% | 34% | 10.7× | -0.4% | +15.3% |
| Evergreen Marine Corp(taiwan) 2603.TW | Taiwan | $16.1B | +28% | -20% | 15% | 5.0× | -9.1% | +12.9% |
| Ningbo Zhoushan Port 601018.SS | China | $10.4B | -4% | +12% | 16% | n/a | -7.3% | +7.6% |
| Nippon Yusen Kabushiki Kaisha 9101.T | Japan | $16.8B | +17% | 0% | 6% | 9.0× | 7.8% | +8.5% |
| Wan Hai Lines 2615.TW | Taiwan | $9.12B | +40% | -14% | 22% | 5.8× | -12.0% | +11.4% |
| China Merchants Energy Shipping 601872.SS | China | $19.6B | -8% | +60% | 39% | 6.3× | -9.5% | +5.4% |
| Wallenius Wilhelmsen WAWI.OL | Norway | $7.58B | +29% | -11% | 25% | 10.4× | -6.6% | +21.0% |
| Hapag-Lloyd HLAG.DE | Germany | $25.1B | +11% | -9% | 2% | 18.5× | 34.4% | +7.8% |
| Kirby KEX | United States | $6.39B | -15% | +8% | 14% | 14.6× | 6.2% | +9.2% |
| Matson MATX | United States | $6.34B | +16% | 0% | 14% | 10.9× | 11.8% | +7.0% |
| Yang Ming Marine Transport 2609.TW | Taiwan | $6.03B | +14% | -22% | 6% | 6.5× | n/a | n/a |
| Kuehne & Nagel International KNIN.SW | Switzerland | $34.3B | +35% | +1% | 5% | 25.4× | 3.2% | +3.7% |
| COSCO SHIPPING 1919.HK | Hong Kong | $38.5B | +20% | -5% | 13% | 6.0× | -8.7% | +4.3% |
| COSCO Shipping Specialized Carriers 600428.SS | China | $4.40B | +25% | +37% | 19% | 8.9× | -17.9% | +27.0% |
| COSCO SHIPPING Development 601866.SS | China | $3.87B | -10% | -3% | 13% | 3.8× | n/a | n/a |
| Hoegh Autoliners HAUTO.OL | Norway | $3.64B | +20% | -4% | 30% | 9.6× | -0.1% | +16.4% |