
ADNOC L&S delivers strong first-quarter performance
Despite challenging market conditions caused by global geopolitical tensions, ADNOC Logistics and Services delivered a resilient performance in the first quarter of 2026. The company recorded EBITDA of US$368 million (AED 1.353 billion) for the first three months of 2026, up 7%, while net profits rose 20% to US$222 million (AED 816 million).
Captain Abdulkareem Al Masabi, CEO of ADNOC L&S, said: “Despite disruption to maritime traffic through the Strait of Hormuz, our diversified business model continued to perform as expected. Our global scale, long term contracted revenue base and integrated portfolio underpinned our resilience.”
The business continues to benefit from long-term contracted revenues, which account for approximately 60% of the combined revenue of ADNOC L&S and its AW Shipping joint venture.
Over the first quarter of this year, ADNOC L&S’ Shipping sector revenue increased 4% to US$512 million (AED 1.882 billion) and EBITDA in this sector rose 37% year-on-year to US$197 million (AED 722 million). The improved results were driven by a global increase in charter rates and contributions from new LNG, Very Large Ethane Carrier (VLEC) and Handysize vessels.
Services sector revenue increased 5% to US$89 million (AED 326 million), with EBITDA up 13% to US$20 million (AED 75 million). Results were supported by the contribution from an Integrated Logistics Service Platform (ILSP) warehouse which was moved from Integrated Logistics to the Services segment. Additional contributions came from Integr8, the bunkering business of Navig8, while Petroleum Port Operations (PPO) and the Borouge Container Terminal (BCT) saw volumes decrease.
In recent weeks ADNOC Logistics & Services and Emirates Global Aluminium (EGA) have also signed an agreement to explore collaboration in aluminium logistics, including transportation, fleet management and infrastructure. The agreement outlines the potential formation of a joint venture for logistics assets, transportation services and integrated supply chain solutions.



















