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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 3.8%, with Höegh Autoliners up 9.4%. In the last 12 months, the industry was up 54%. 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
Mon, 02 Mar 2026NOK 166.9bNOK 132.8bNOK 28.8b5.7x5.8x1.3x
Wed, 28 Jan 2026NOK 144.3bNOK 135.6bNOK 30.4b4.9x4.7x1.1x
Fri, 26 Dec 2025NOK 131.5bNOK 141.0bNOK 31.6b4.2x4.2x0.9x
Sun, 23 Nov 2025NOK 124.7bNOK 144.5bNOK 32.5b4x3.8x0.9x
Tue, 21 Oct 2025NOK 119.2bNOK 142.1bNOK 32.4b4.1x3.7x0.8x
Thu, 18 Sep 2025NOK 134.4bNOK 138.8bNOK 32.0b4.3x4.2x1x
Sat, 16 Aug 2025NOK 130.1bNOK 146.2bNOK 34.4b3.8x3.8x0.9x
Mon, 14 Jul 2025NOK 132.5bNOK 150.9bNOK 36.1b3.7x3.7x0.9x
Wed, 11 Jun 2025NOK 124.9bNOK 151.6bNOK 36.5b3.4x3.4x0.8x
Fri, 09 May 2025NOK 100.6bNOK 150.8bNOK 34.9b2.7x2.9x0.7x
Sun, 06 Apr 2025NOK 91.1bNOK 155.6bNOK 36.2b2.3x2.5x0.6x
Tue, 04 Mar 2025NOK 117.3bNOK 165.6bNOK 37.6b3.1x3.1x0.7x
Thu, 30 Jan 2025NOK 131.7bNOK 166.6bNOK 37.3b3.5x3.5x0.8x
Sat, 28 Dec 2024NOK 134.0bNOK 167.5bNOK 37.5b3.4x3.6x0.8x
Mon, 25 Nov 2024NOK 150.9bNOK 163.7bNOK 36.4b3.9x4.1x0.9x
Wed, 23 Oct 2024NOK 165.0bNOK 160.2bNOK 35.0b4.1x4.7x1x
Fri, 20 Sep 2024NOK 171.3bNOK 153.5bNOK 33.6b4.8x5.1x1.1x
Sun, 18 Aug 2024NOK 158.0bNOK 156.8bNOK 33.8b5x4.7x1x
Tue, 16 Jul 2024NOK 163.1bNOK 158.7bNOK 33.7b5.5x4.8x1x
Thu, 13 Jun 2024NOK 161.6bNOK 156.9bNOK 32.5b5.7x5x1x
Sat, 11 May 2024NOK 178.0bNOK 160.7bNOK 33.4b6.1x5.3x1.1x
Mon, 08 Apr 2024NOK 146.6bNOK 157.2bNOK 31.7b5.9x4.6x0.9x
Wed, 06 Mar 2024NOK 149.1bNOK 154.8bNOK 31.2b6.4x4.8x1x
Fri, 02 Feb 2024NOK 179.4bNOK 181.1bNOK 32.6b7.3x5.5x1x
Sun, 31 Dec 2023NOK 159.1bNOK 177.3bNOK 31.8b6.8x5x0.9x
Tue, 28 Nov 2023NOK 160.9bNOK 185.3bNOK 35.3b5.8x4.6x0.9x
Thu, 26 Oct 2023NOK 157.8bNOK 193.6bNOK 34.5b4.6x4.6x0.8x
Sat, 23 Sep 2023NOK 151.7bNOK 187.4bNOK 33.0b5x4.6x0.8x
Mon, 21 Aug 2023NOK 145.2bNOK 186.4bNOK 32.1b4.6x4.5x0.8x
Wed, 19 Jul 2023NOK 134.5bNOK 179.6bNOK 26.2b4.8x5.1x0.7x
Fri, 16 Jun 2023NOK 139.9bNOK 186.3bNOK 27.9b4.9x5x0.8x
Sun, 14 May 2023NOK 139.4bNOK 187.5bNOK 28.5b4.2x4.9x0.7x
Tue, 11 Apr 2023NOK 135.7bNOK 183.9bNOK 27.9b4.9x4.9x0.7x
Thu, 09 Mar 2023NOK 148.5bNOK 185.5bNOK 28.1b5.3x5.3x0.8x
Price to Earnings Ratio

5.3x


Total Market Cap: NOK 148.5bTotal Earnings: NOK 28.1bTotal Revenue: NOK 185.5bTotal 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 11% 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 134.705.6%
+NOK 3.0b		56.2%PE5.9x
HAUTO Höegh AutolinersNOK 136.1012.8%
+NOK 3.0b		80.0%PE5.3x
SNI Stolt-NielsenNOK 341.508.4%
+NOK 1.4b		31.6%PE5.4x
MPCC MPC Container ShipsNOK 22.7712.4%
+NOK 1.1b		29.7%PE4.5x
ODF OdfjellNOK 131.809.3%
+NOK 886.3m		36.6%PE7x

Latest News

SNI
NOK 341.50
Stolt-Nielsen
7D
8.4%
1Y
31.6%
JIN
NOK 5.60
Jinhui Shipping and Transportation
7D
-2.8%
1Y
-3.4%
ODF
NOK 131.80
Odfjell
7D
9.3%
1Y
36.6%

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.
HAUTO
NOK 136.10
Höegh Autoliners
7D
12.8%
1Y
80.0%
HSHP
NOK 136.60
Himalaya Shipping
7D
2.9%
1Y
123.9%
2020
NOK 134.40
2020 Bulkers
7D
2.0%
1Y
-2.5%
MPCC
NOK 22.77
MPC Container Ships
7D
12.4%
1Y
29.7%
WWI
NOK 775.00
Wilh. Wilhelmsen Holding
7D
2.1%
1Y
96.7%

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.
WAWI
NOK 134.70
Wallenius Wilhelmsen
7D
5.6%
1Y
56.2%

WAWI: Softer Revenue And Margin Outlook Will Likely Pressure Shares

Analysts have trimmed their price target for Wallenius Wilhelmsen to NOK83.43 from NOK84.24. This reflects updated assumptions for slightly softer revenue trends, a small reduction in expected profit margins, a modestly higher discount rate, and a higher future P/E of 13.10x.
KCC
NOK 92.00
Klaveness Combination Carriers
7D
-1.4%
1Y
50.1%

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).