Adnoc Logistics & Services (Adnoc L&S), a subsidiary of the Abu Dhabi energy giant, announced on 29 June that it has revised up its 2026 full-year guidance. From an expected 15-20% profit growth this year, it is now guiding “high 60% growth,” according to a filing to the Abu Dhabi Securities Exchange (ADX).
The jump in guidance reflects “the ongoing strength” of the firm’s shipping segment at a time when freight rates for shipping have climbed to extraordinary levels due to conflict and the repeated closure of the Strait of Hormuz (MEES, 3 July). (CONTINUED - 166 WORDS)