COSCO SHIPPING International (Singapore) Co., Ltd. reported that net profit attributable to equity holders rose 188% year-on-year to S$7.56 million for the six months ended Jun 30 2026, lifted by stronger contributions from its logistics and ship-repair businesses and lower finance costs.
Diluted earnings per share increased 42% to 0.17 Singapore cents. The company did not declare any dividend for the period.
Group revenue advanced 6% YoY to S$96.79 million, with logistics activities—accounting for roughly 88% of the top line—gaining 6% to S$85.2 million on firmer warehousing and automotive services demand. Ship-repair and marine engineering revenue climbed 14%, while property-management turnover inched up 1% to S$1.27 million.
Pre-tax profit nearly doubled to S$11.38 million, supported by a 3% rise in gross profit to S$23.8 million, a 99% surge in other income to S$2.8 million, and a 62% drop in finance costs to S$1.8 million following reduced borrowings. Share of profit from associates contributed S$2.8 million, buoyed by improved earnings at PT. Ocean Global Shipping Logistics and SINOVNL Company.
Cost of sales grew 8% in tandem with expanded logistics and marine work scopes, while administrative expenses edged 6% higher on increased corporate costs. Tax expense rose 17% to S$3.1 million in line with stronger earnings.
Management cited elevated geopolitical tensions, energy-price volatility and shifting trade patterns as continuing risks that could temper shipping and logistics demand. The company intends to maintain a prudent approach to capital allocation and operational integration while pursuing expansion opportunities in Singapore, Malaysia and the broader Southeast Asian market.
Strategically, the group aims to consolidate its position as an integrated logistics service provider by leveraging strategic acquisitions, investing in supply-chain capabilities and deepening collaboration with associated companies in bulk shipping and value-added logistics.
Net asset value stood at 17.54 Singapore cents per share at end-June, while the gearing ratio (net of cash) remained conservative at –0.08 times, underscoring a strong balance-sheet position as the group navigates an uncertain macroeconomic outlook.