Adnoc Logistics & Services has upgraded its full-year 2026 financial guidance because of a strong shipping performance and steady improvements across its offshore logistics operations.Net profit is projected to surge more than 60 per cent, significantly above previous expectations of growth in the mid-to-high teens, it said on Monday. The Abu Dhabi-listed company now expects revenue to grow at a low single-digit rate for the year, up from a projection of low-to-mid single digit reduction. Earnings before interest, taxes, depreciation and amortisation (ebitda) is forecast to rise more than 20 per cent, from its earlier guidance of mid-to-high single-digit.“Our offshore contracting segment has been positively impacted by gradual improvements in material handling volumes in the Integrated Logistics Services Platform (ILSP). Guidance reflects higher ILSP material handling volumes and maintains previous guidance assumptions for our jack-up barge fleet,” the company said.Despite the improved earnings outlook, the company said its capital expenditure forecast, leverage targets, and dividend policy remain unchanged and aligned with its existing capital allocation framework.The company is scheduled to announce its second-quarter results on August 11.Adnoc L&S provides energy products and solutions to more than 100 customers in more than 50 countries.Play01:59This crisis has revealed two different visions: Adnoc CEOAdnoc L&S reported a 12 per cent annual jump in first-quarter net income despite Iran war-driven maritime logistics disruptions as higher shipping rates offset a drop in revenue. Net profit attributable to the equity holders of the company for the three months to the end of March climbed to $202.74 million.The Strait of Hormuz, the narrow waterway through which a fifth of global oil and gas supplies flowed before the war, was effectively shut at the start of the US-Iran war on February 28. It recently reopened in part, allowing more ships through.Shipping traffic in the strait increased after an initial agreement between the US and Iran, with crossings involving a broad range of vessels including crude, chemicals, container, bulk and general cargo carriers, Kpler data shows.The Iranian blockade on the strait and attacks on commercial vessels have caused an unprecedented energy shock and disrupted logistics and transport business. But despite the uncertainty, Adnoc L&S will continue its strategic fleet expansion and modernisation programme, it said in May.In March, its fifth new-build LNG carrier Arada joined the fleet, followed by Al Taweelah in April. The new vessels are part of a $1.2 billion order placed in 2022, with five vessels being deployed under long term contracts, from May 2026, to transport liquefied natural gas produced by Adnoc Gas, the company said in May.It also said that its growth investments remain on track and that the company retains “significant financial capacity for investments beyond announced projects”.