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Norwegian (OSEAX) Marine and Shipping Industry Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies12
  • 7D4.7%
  • 3M29.0%
  • 1Y55.3%
  • YTD25.3%

In the last week, the Marine and Shipping industry is up 4.7%, with Wallenius Wilhelmsen leading the way, up 5.6%. This means that the industry has gained 55% over the past year. As for the next few years, earnings are forecast to decline by 19% per annum.

Industry Valuation and Performance

Has the Norwegian Marine and Shipping Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026NOK 166.9bNOK 132.8bNOK 28.8b5.7x5.8x1.3x
Fri, 30 Jan 2026NOK 142.7bNOK 134.6bNOK 29.9b4.8x4.8x1.1x
Sun, 28 Dec 2025NOK 131.5bNOK 141.1bNOK 31.6b4.1x4.2x0.9x
Tue, 25 Nov 2025NOK 124.2bNOK 144.4bNOK 32.5b4x3.8x0.9x
Thu, 23 Oct 2025NOK 116.5bNOK 141.5bNOK 32.3b4.1x3.6x0.8x
Sat, 20 Sep 2025NOK 132.8bNOK 140.7bNOK 32.4b4.3x4.1x0.9x
Mon, 18 Aug 2025NOK 130.1bNOK 146.2bNOK 34.4b3.8x3.8x0.9x
Wed, 16 Jul 2025NOK 131.0bNOK 152.7bNOK 36.5b3.6x3.6x0.9x
Fri, 13 Jun 2025NOK 126.9bNOK 149.2bNOK 35.9b3.6x3.5x0.9x
Sun, 11 May 2025NOK 102.8bNOK 150.0bNOK 34.8b2.9x3x0.7x
Tue, 08 Apr 2025NOK 96.4bNOK 159.1bNOK 36.6b2.7x2.6x0.6x
Thu, 06 Mar 2025NOK 114.9bNOK 162.7bNOK 37.0b3.1x3.1x0.7x
Sat, 01 Feb 2025NOK 130.4bNOK 166.6bNOK 37.2b3.4x3.5x0.8x
Mon, 30 Dec 2024NOK 134.0bNOK 167.4bNOK 37.5b3.4x3.6x0.8x
Wed, 27 Nov 2024NOK 145.8bNOK 165.1bNOK 36.8b3.6x4x0.9x
Fri, 25 Oct 2024NOK 155.0bNOK 160.4bNOK 35.1b3.9x4.4x1x
Sun, 22 Sep 2024NOK 171.2bNOK 153.5bNOK 33.6b4.7x5.1x1.1x
Tue, 20 Aug 2024NOK 156.1bNOK 154.9bNOK 33.4b5x4.7x1x
Thu, 18 Jul 2024NOK 162.9bNOK 157.6bNOK 33.4b5.5x4.9x1x
Sat, 15 Jun 2024NOK 157.6bNOK 158.2bNOK 32.8b5.4x4.8x1x
Mon, 13 May 2024NOK 178.0bNOK 160.7bNOK 33.4b6.1x5.3x1.1x
Wed, 10 Apr 2024NOK 148.0bNOK 158.1bNOK 32.0b5.6x4.6x0.9x
Fri, 08 Mar 2024NOK 137.6bNOK 152.4bNOK 30.7b6.2x4.5x0.9x
Sun, 04 Feb 2024NOK 180.1bNOK 183.7bNOK 33.1b7.2x5.4x1x
Tue, 02 Jan 2024NOK 159.1bNOK 177.3bNOK 31.8b6.8x5x0.9x
Thu, 30 Nov 2023NOK 157.7bNOK 185.1bNOK 35.3b5.7x4.5x0.9x
Sat, 28 Oct 2023NOK 159.0bNOK 193.9bNOK 35.1b4.5x4.5x0.8x
Mon, 25 Sep 2023NOK 151.7bNOK 187.8bNOK 33.1b5x4.6x0.8x
Wed, 23 Aug 2023NOK 145.2bNOK 185.8bNOK 32.8b4.7x4.4x0.8x
Fri, 21 Jul 2023NOK 134.2bNOK 180.1bNOK 26.3b4.8x5.1x0.7x
Sun, 18 Jun 2023NOK 140.0bNOK 187.3bNOK 28.0b4.8x5x0.7x
Tue, 16 May 2023NOK 137.8bNOK 186.3bNOK 28.3b4.3x4.9x0.7x
Thu, 13 Apr 2023NOK 139.8bNOK 183.1bNOK 27.8b5x5x0.8x
Sat, 11 Mar 2023NOK 146.8bNOK 184.7bNOK 28.0b5.3x5.2x0.8x
Price to Earnings Ratio

5.2x


Total Market Cap: NOK 146.8bTotal Earnings: NOK 28.0bTotal Revenue: NOK 184.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Marine and Shipping Industry Price to Earnings3Y Average 4.4x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Shipping industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 5.8x which is higher than its 3-year average PE of 4.4x.
  • The 3-year average PS ratio of 0.88x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Shipping industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 10% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

Which industries have driven the changes within the Norwegian Industrials industry?

NO Market0.60%
Industrials-0.74%
Marine and Shipping4.65%
Marine4.65%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WAWI Wallenius WilhelmsenNOK 135.206.1%
+NOK 3.3b		59.6%PE5.8x
HAUTO Höegh AutolinersNOK 138.2014.1%
+NOK 3.3b		87.1%PE5.3x
SNI Stolt-NielsenNOK 341.504.8%
+NOK 823.4m		36.3%PE5.3x
ODF OdfjellNOK 131.406.0%
+NOK 585.6m		44.1%PE6.9x
MPCC MPC Container ShipsNOK 23.135.7%
+NOK 550.2m		36.8%PE4.5x

Latest News

WAWI
NOK 135.20
Wallenius Wilhelmsen
7D
6.1%
1Y
59.6%
HAUTO
NOK 138.20
Höegh Autoliners
7D
14.1%
1Y
87.1%

HAUTO: Higher P E And Earnings Quality Will Shape Balanced Return Potential

Analysts have lifted their price target on Höegh Autoliners to NOK 130 from around NOK 83, citing updated assumptions on fair value, discount rate, revenue trends, profit margins and future P/E expectations that support a more neutral Hold stance. Analyst Commentary Analysts shifting to a Hold view at a NOK 130 price target are signalling that, at current levels, Höegh Autoliners looks closer to fairly valued in their models.
SNI
NOK 341.50
Stolt-Nielsen
7D
4.8%
1Y
36.3%
JIN
NOK 5.46
Jinhui Shipping and Transportation
7D
-5.2%
1Y
-4.2%
ODF
NOK 131.40
Odfjell
7D
6.0%
1Y
44.1%

ODF: Execution Risks And Margin Pressure Will Likely Restrain Future P/E Multiple

We trim our Odfjell fair value estimate to NOK 104 from NOK 118, reflecting analysts' more cautious assumptions on growth, margins and a higher future P/E multiple following recent downgrades and price targets such as NOK 114. Analyst Commentary Recent Street commentary points to a more cautious stance on Odfjell, with several bearish analysts revisiting their ratings and price assumptions.
HSHP
NOK 138.20
Himalaya Shipping
7D
2.7%
1Y
142.9%
WEST
NOK 20.50
Western Bulk Chartering
7D
3.3%
1Y
51.3%
2020
NOK 135.50
2020 Bulkers
7D
1.7%
1Y
7.4%
MPCC
NOK 23.13
MPC Container Ships
7D
5.7%
1Y
36.8%
WWI
NOK 759.00
Wilh. Wilhelmsen Holding
7D
-1.2%
1Y
97.1%

WWI: Higher Future P/E And Dividend Flexibility Will Support Upside Potential

The analyst price target for Wilh. Wilhelmsen Holding has been revised from NOK 717 to NOK 1,102.
KCC
NOK 93.00
Klaveness Combination Carriers
7D
-1.0%
1Y
57.1%

KCC: Dividend Payouts And Alumina Contract Will Support Steady Outlook

Analysts have made a small upward adjustment to their fair value estimate for Klaveness Combination Carriers to NOK 97.87 from NOK 97.62, reflecting updated assumptions on discount rate, revenue trends, profit margins and future P/E expectations. What's in the News The board has declared a cash dividend of US$0.08 per share for the fourth quarter of 2025, totaling about US$4.7m, with the last trading day including rights on 17 February 2026 and payment expected on or about 2 March 2026 (Key Developments).
STST
NOK 37.10
Stainless Tankers
7D
-0.3%
1Y
-29.2%