Shipping companies in India: list of 14 shipping stocks

A company appears if the exchanges classify it under shipping, part of transport services within the services sector. It runs from fleet owners such as The Great Eastern Shipping Company and the Shipping Corporation of India to much smaller firms. A company that runs ships as a side line may be classified elsewhere.

Market cap is share price times shares outstanding. P/E is market cap divided by the last four quarters' profit that belongs to the company's own shareholders, or the last two half-years for companies that report twice a year. One-day and one-year changes are adjusted for splits and bonuses and leave out dividends.

ROCE, return on capital employed, is operating profit after depreciation, leaving out other income and one-off items, as a percentage of net worth plus borrowings. Lease liabilities are left out.

A shipowner earns freight, or hire for a ship rented out for a period. Rates are set in global markets and move with trade volumes and ship supply, so profit swings widely. Tankers carry crude oil and refined products, bulk carriers carry grain, coal and ore, and gas carriers move LPG and LNG. Where ships are bought with borrowed money, borrowings make up much of the capital that ROCE is measured against.

Freight cycles mean a P/E or ROCE describes one point in the cycle.