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), which serves as the listing vehicle for Banle Group ("Banle" or "the Group"), a well-respected marine fuel logistics company in the Asia-Pacific region, is excited to announce a major achievement: the expansion of its global port coverage to over 60 ports across fourteen countries and regions spanning four continents.
This expansion highlights Banle's dedication to broadening its global footprint and entering new markets. The company is actively working to open additional service ports, thereby enhancing coverage for both existing and new customers. Currently, Banle offers bunkering services in Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, Singapore, Taiwan, Thailand, Turkey, and Vietnam. This marks a remarkable 70% increase in port coverage since its Nasdaq listing in March 2023, further solidifying Banle's status as a key player in the industry.
Dominance in Major Maritime Hubs
Banle's operations encompass nine of the top ten container ports in the world based on throughput volume, underscoring its dominance in critical maritime hubs. The Asia-Pacific region, which accounts for 70% of global container port throughput, remains a primary focus for Banle, while the company also continues to expand its presence in Europe and other regions.
Commitment to Greener Marine Fuels
Banle is proactively preparing to meet the increasing demand for greener marine fuels, driven by international regulations such as the FuelEU Maritime initiative and the IMO's greenhouse gas reduction strategy. The company has secured the necessary ISCC EU and ISCC Plus certifications to ensure compliance with these regulations.
Milestones in Biofuel Bunkering Services
As a leader in providing reliable biofuel supplies at major ports, Banle has reached several key milestones in its biofuel bunkering services, including:
- Initiating biofuel supply in Hong Kong.
- Completing the first export of cargo supply to China.
- Launching biofuel supply in Guangzhou, China.
- Starting biofuel supply in Shenzhen, China (Yantian).
- Inaugurating biofuel supply in Port Klang, Malaysia.
Industry reports indicate that the container shipping market has surpassed growth expectations. Forecasts suggest a 5 – 6% increase in container volumes for the upcoming year, along with a 3 – 4% rise for the following year. Banle is well-positioned to leverage this growth, continuing to provide essential bunkering services that support the efficient operations of container liners worldwide.
Leadership's Vision for Expansion
Since its Nasdaq listing, Banle has made significant progress in enhancing its port coverage and service offerings to meet the evolving needs of international shipping companies. "Our expansion into Europe, particularly with our new establishments in Ireland, emphasizes our commitment to developing our green marine fuels business, which is vital for our long-term sustainability goals," stated Mr. Teck Lim Chia, Chairman & CEO of Banle Group.
About Banle Group
CBL International Limited (Nasdaq: BANL) serves as the listing vehicle for Banle Group, a reputable marine fuel logistics company established in 2015 and based in the Asia-Pacific region. We are dedicated to providing our customers with a comprehensive solution for vessel refueling. Currently, Banle Group operates in over 60 major ports across several key countries. The Group actively promotes the use of alternative fuels and has been awarded 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 successfully expanded its global port coverage to over 60 ports across fourteen countries, significantly enhancing its market presence.
Which countries does Banle Group provide services in?
Banle Group offers bunkering services in various countries, including Belgium, China, Hong Kong, India, Japan, Malaysia, and several others.
What are Banle's certifications related to greener fuels?
Banle has obtained ISCC EU and ISCC Plus certifications to comply with international regulations governing greener marine fuels.
How does Banle Group's expansion impact the shipping industry?
Banle's expansion increases its capacity to support international shipping companies with essential bunkering services, facilitating smoother operations.
What is Banle Group's commitment regarding marine fuels?
Banle Group is committed to promoting the use of alternative fuels to align with sustainability objectives and meet regulatory requirements in the marine fuel sector.
