Banle Group Boosts Global Port Network to 60+ Ports
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Banle Group Expands Global Port Coverage
CBL INTERNATIONAL LIMITED
(Incorporated in Cayman Islands with limited liabilities)
(NASDAQ: BANL)
CBL International Limited (the "Company" or "CBL") (NASDAQ: BANL), the listing vehicle of Banle Group ("Banle" or "the Group"), a reputable marine fuel logistic company in the Asia-Pacific region, proudly announces a significant milestone by expanding its global port coverage to over 60 ports across fourteen countries and regions in four continents.
This development underscores Banle's commitment to expanding its global presence and entering new markets, demonstrating the company's continued efforts to open new service ports and increase coverage for both existing and new customers. The company now provides bunkering services in Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, Singapore, Taiwan, Thailand, Turkey, and Vietnam, representing a 70% increase in port coverage since its Nasdaq listing in March 2023. This expansion solidifies Banle's position as a major player in the industry.
Dominance in Major Maritime Hubs
The Group's footprint includes nine out of the top ten container ports globally by throughput volume, highlighting its dominance in key maritime hubs. The Asia Pacific region, accounting for 70% of global container port throughput, remains a key focus for Banle, while the company continues to expand its presence in Europe and other regions.
Commitment to Greener Marine Fuels
Banle is actively preparing to capitalize on the growing demand for greener marine fuels, driven by international regulations like the FuelEU Maritime initiative and the IMO's strategy for greenhouse gas reduction. The company has obtained the required ISCC EU and ISCC Plus certifications to comply with these regulations.
Milestones in Biofuel Bunkering Services
As a pioneer in providing stable biofuel supply at major ports, Banle has achieved key milestones in biofuel bunkering services, including:
- Commencement of biofuel supply in Hong Kong.
- First export to China cargo supply.
- Introduction of biofuel supply in Guangzhou, China.
- Launch of biofuel supply in Shenzhen, China (Yantian).
- Inaugural biofuel supply in Port Klang, Malaysia.
According to industry reports, the container shipping market has exceeded growth expectations. Forecasts predict a 5 – 6% increase in container volumes for the upcoming year, along with a 3 – 4% increase for the following year. Banle is well-positioned to capitalize on this growth, continuing to facilitate essential bunkering services that support the efficient operations of container liners globally.
Leadership's Vision for Expansion
Since its Nasdaq listing, Banle has made remarkable strides in expanding its port coverage and enhancing its service offerings to meet the growing demands of international shipping companies. "Our expansion into Europe, particularly with establishments in Ireland, underlines our commitment to developing our green marine fuels business, which is critical for our long-term sustainability goals," said Mr. Teck Lim Chia, Chairman & CEO of Banle Group.
About Banle Group
CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with a one-stop solution for vessel refuelling. Banle Group’s business activities are primarily focused in over 60 major ports covering several key countries as of now. The Group actively promotes the use of alternative fuels and has been awarded with the ISCC EU and ISCC Plus certifications.
For more information about our company, please reach out via email at investors@banle-intl.com.
Frequently Asked Questions
What recent milestone did Banle Group achieve?
Banle Group has expanded its global port coverage to over 60 ports across fourteen countries, significantly increasing its market presence.
Which countries does Banle Group provide services in?
Banle Group provides bunkering services in several countries including Belgium, China, Hong Kong, India, Japan, Malaysia, and more.
What are Banle's certifications related to greener fuels?
Banle has obtained ISCC EU and ISCC Plus certifications to comply with international regulations for greener marine fuels.
How does Banle Group's expansion impact the shipping industry?
Banle's expansion enhances its capacity to support international shipping companies with essential bunkering services, facilitating efficient operations.
What is Banle Group's commitment regarding marine fuels?
Banle Group is dedicated to promoting the use of alternative fuels to align with sustainability goals and meet regulatory demands in the marine fuel industry.
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