The Impact of Business Diversification on the Stable Income of the Shipping Industry: Taking China Merchants Group (601872) as an Example

As a primary means of global trade commodity exchange, maritime shipping has experienced fluctuating profitability in recent years because of frequent incidents and economic challenges. Many maritime companies with highly concentrated operations face significant profit volatility in complex international markets. This study examines China Merchants Energy Transportation Co., Ltd. through two analytical lenses—profit fluctuations and capital efficiency—to analyse its tanker, dry bulk, container, and roll-on/roll-off (ro/ro) transportation operations. The research investigates whether business diversification can mitigate profit volatility, aiming to increase maritime enterprises’ resilience against market cycles and risks. The findings indicate that diversified business portfolios positively influence an enterprise’s cyclical adaptability.