China’s COSCO Shipping Specialised Carriers posted strong results for the first quarter of 2026, showing continued momentum in the specialised shipping segment. Revenue rose 26% year-on-year to CNY 6.55 billion (about $905 million), while total profit increased 33.5% to CNY 712.7 million. Net profit attributable to shareholders reached CNY 405.9 million, up 17.5% from a year earlier.

Operationally, growth was driven by a sharp increase in cargo volumes, which climbed to 8.53 million tonnes — up 56% year-on-year — as well as by ongoing fleet expansion. During the quarter, the company added seven new vessels, including a heavy-lift ship, multi-purpose vessels and car carriers, bringing its total fleet to 204 ships with combined deadweight of 9.45 million tonnes.

The scale-up also translated into stronger cash generation: operating cash flow surged by nearly 90%, pointing to improved revenue quality and more efficient fleet utilization. At the same time, the disposal of one vessel suggests the company is continuing to optimize its asset structure.

From an industry perspective, COSCO Shipping Specialised Carriers’ results highlight sustained demand for specialised shipping, including heavy-lift and project cargo. By expanding in these higher-margin niches, the company is strengthening its position beyond traditional shipping markets.