May 2026
📣 VC round data is live. Check it out!
Largest Marine Transportation Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
Wallenius Wilhelmsen, Wilh. Wilhelmsen Holding, Höegh Autoliners, Flex LNG and Solstad Maritime.
 | Wallenius Wilhelmsen ASA is an integrated vehicle transportation and logistics company, supporting customers across their supply chain, all the way from the factory to the end-consumer. The company has three reportable operating segments, namely Shipping services, Logistics services and Government services. It generates maximum revenue from the Shipping services segment. The shipping services segment is engaged in the ocean transport of cars and RoRo cargo. Its main customers are car manufacturers as well as manufacturers of construction and other high and heavy equipment. Geographically, it derives a majority of its revenue from the Americas. | $13 | +61% | $6B | $7B | 1.4x | 3.7x | ||
| Wilh. Wilhelmsen Holding ASA operates in the maritime industry and offers shipping and logistics services. The operating segments of the group are Maritime Services, New Energy, and Strategic Holdings and Investments. It derives key revenue from the Maritime Services segment which offers marine products, ship agency services and logistics to the merchant fleet and ship management including manning for all vessel types, through an international network of approximately 239 offices in 60 countries. The group has a business presence in Europe, Oceania, America, and Asia and Africa. | $77 | +82% | $3B | $3B | 2.5x | 3.8x | ||
| Hoegh Autoliners ASA is a provider of transportation services within the Roll-on Roll-off (RoRo) segment. The company's fleet of Pure Car and Truck Carriers sailing in trade systems, combined with its local presence, enables the company to cater to the specific needs of its customers. It offers deep-sea transportation of RoRo cargo such as cars, high and heavy machinery and breakbulk. The Group has two operating segments, Shipping services and Logistics services. The company generates the majority of its revenue from the Shipping services segment. | $15 | +74% | $3B | $4B | 2.5x | 5.2x | ||
| Flex LNG Ltd is an LNG shipping company with a fleet of next-generation LNG carriers with large cargo capacity. The fleet consists of thirteen modern LNG ships, ten existing and three under construction for delivery. All LNG carriers are equipped with slow-speed, two-stroke engines MEGI or X-DF propulsion which will provide Charterers with tonnage offering advantages in form of reduced fuel consumption and lowered boil-off rates. | $32 | -- | $2B | $3B | 9.1x | 13.0x | ||
| Solstad Maritime ASA operates offshore service and construction vessels, offering ships, additional services (ROVs, etc), and maritime personnel in all geographical regions. Its operating business segments include AHTS, CSV, Services, and Others. The AHTS segment includes Anchor handling tug supply vessels; the CSV segment represents operations of Construction vessels operating subsea construction contracts; and the Services segment includes additional services provided across vessel spreads, i.e., ROVs, tooling, project personnel, and engineering support. All of the company's income is classified as Oil and Gas, which derives key revenue, or Renewable. Geographically, it generates maximum revenue from the North Sea region, followed by Africa, Mediterranean, South America, etc. | $3 | -- | $1B | $2B | 3.4x | 5.9x | ||
| Bonheur ASA was initially a Norwegian shipping company. Currently, the company is engaged in several businesses. It provides services through four segments: Other Investments, Renewable Energy, Cruise, and Wind Services. The renewable energy segment is involved in developing, constructing, and operating wind farms in Scotland, Norway, Sweden, Ireland, Italy, and the USA. The wind Service segment is engaged in logistics and services within the offshore wind industry. Cruise owns and operates four cruise ships and provides a diverse range of cruises, The other investments segment has investments within media, real estate, bonds, and shares. | $28 | +14% | $1B | $1B | 0.9x | 2.8x | ||
| MPC Container Ships ASA is a Norway based company that engages in the investment in and operation of shipping assets. The group's principal business activity is to invest in and operate maritime assets in the container shipping segment. It owns and operates container shops and feeder vessels that are chartered out to liner shipping companies and regional carriers. The group has one reporting segment, i.e., the container shipping segment. | $3 | +52% | $1B | $1B | 2.3x | 3.4x | ||
| Odfjell SE is a company engaged in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other specialty products. It also owns and operates chemical tankers and tank terminals. The Company has two reportable operating segments: The Chemical Tankers involve a round-the-world service, servicing ports in Europe, North, and South America, the Middle East and Asia, Australia, and Africa, and The Tank Terminals segment offers storage of various chemical and petroleum products. It operates through various geographical regions which include North and South America, Norway, Netherlands, Australasia, Africa Middle East, and Asia, and derives a majority revenue from the Middle East and Asia. | $12 | +4% | $931M | $2B | 1.6x | 4.8x | ||
| Solstad Offshore ASA is an owner and operator of offshore service vessels, offering maritime services to the petroleum and renewable energy industries. Its operating segments include AHTS: anchor handling vessels; CSV: Construction support vessels operating subsea construction contracts, Services: Additional services across vessel spreads i.e. ROVs, tooling, project personnel, engineering support. Other: Other income and costs not allocated to the three segments. Key revenue is generated from South America. | $7 | +73% | $772M | $1B | 3.7x | 5.1x | ||
| Himalaya Shipping Ltd is an independent dry bulk company that focuses on owning and operating its Newcastlemax dry bulk carriers. | $16 | +165% | $748M | $1B | 10.6x | 14.3x | ||
| Klaveness Combination Carriers ASA is an owner and operator of combination carrier vessels designed to transport both wet and dry bulk cargo in Norway. The company provides maritime transportation services and operates vessels across trade routes where dry and liquid cargoes can be carried efficiently within the same shipping cycle. Its fleet includes CABU and CLEANBU vessels used in bulk shipping operations. The reportable segments are CABU and CLEANBU, with the majority of the revenue derived from the CABU vessels. | $11 | +69% | $649M | $933M | 3.9x | 11.5x | ||
| General Oceans ASA is a provider of underwater technology delivering sensors, systems, and robotic solutions used in demanding marine environments. The Group produces technology for measuring and understanding the ocean, imaging & navigation systems, and autonomous/remotely operated vehicles with associated manipulators and control systems. Underwater acoustics is the core of the Group's technology, complemented by optical technology, environmental sensors, and software capabilities. | $3 | -- | $540M | $520M | 3.8x | 18.6x | ||
| ABL Group ASA is an independent energy and marine consultant working in energy and oceans to de-risk and drive the energy transition across the renewables, maritime, and oil and gas sectors, offering its clients expertise across marine, engineering, and adjusting disciplines from more than 300 locations world wide. It has offices majorly in marine and offshore energy hubs in countries across Europe, Africa, the Americas, the Middle East, Asia, and Australia. | $1 | +13% | $150M | $171M | 0.5x | 11.4x | ||
| Golden Energy Offshore Services ASA is a Norwegian based offshore service company. Its principal activity is to own and charter out its offshore vessels to international oil companies. The company's vessels includes M/V Energy Swan, M/V Energy Empress, M/V Energy Paradise, M/V Energy Passion and M/V Energy Duchess. | $1 | -42% | $70M | $181M | 4.4x | 16.5x | ||
| Stainless Tankers ASA is a shipping company specializing in providing seaborne transportation of chemical cargoes world-wide. The Company provides investors with pure-play stainless steel chemical tanker exposure in an investor-friendly structure through its fleet of seven stainless steel vessels. | $5 | -12% | $64M | $99M | 2.4x | 4.2x | ||
| HAV Group ASA is a provider of solutions and technology to the marine and maritime industries. The group's vision is to contribute to the green shift through solutions and high-end products for the ocean industries. Its activities include ship design and system packages for offshore, transport, and fishing vessels; design, engineering, and installation of electric systems and delivery of control and automation systems for ships; design, engineering, and delivery of ballast water treatment systems; and providing scalable hydrogen systems, that are designed for operation in heavy seas. | $2 | +147% | $64M | $43M | 0.5x | 15.3x | ||
| Havila Shipping ASA along with its subsidiaries is engaged in the shipping business. The company manages and operates offshore service vessels. Its segment includes Platform Supply Vessel, Rescue recovery Vessel, Subsea operations vessels, and Non-allocated. The group generates revenue mainly from customers located in Norway, the UK, Denmark, Belgium, Iceland, the USA, and the Netherlands. The group generates the majority of its revenue from the Platform Supply Vessel segment. | $0 | -11% | $37M | $126M | 1.9x | 4.5x | ||
| AMSC ASA is a ship finance company focused on owning and bareboat chartering maritime assets. The company owns a fleet of nine modern handy size product tankers, one modern handy size shuttle tanker and an international subsea construction vessel. AMSC charters its vessels on long term bareboat charters that provide stable, predictable cash flow. Its one operating segment which is its investment into Solstad Maritime Holding AS. | $0 | +2% | $11M | ($35M) | — | 9.6x | ||
| Median | $6 | +52% | $760M | $1B | 2.5x | 5.6x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.