CBL International Limited, the listing vehicle of Banle Group, has achieved a significant milestone by expanding its global port coverage to over 60 ports across fourteen countries and regions spanning four continents. This strategic expansion underscores Banle’s commitment to broadening its global footprint, strengthening its position as a leader in the marine fuel bunkering industry.
Since its Nasdaq listing in March 2023, Banle has increased its port coverage by 70%, adding a multitude of new service locations for both existing and new customers. The company’s expanded presence now includes ports in Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, Singapore, Taiwan, Thailand, Turkey, and Vietnam. This extensive network highlights Banle’s growing influence in the global maritime industry and its dedication to meeting the needs of the international shipping community.
Banle’s footprint now encompasses nine of the top ten container ports globally by throughput volume in 2023, solidifying its dominance in key maritime hubs. The Asia Pacific region, which accounts for 70% of global container port throughput, remains a core focus for Banle. The company continues to strategically expand its operations in Europe and other regions, reflecting its adaptability and ambition to capture new markets.
As the maritime industry faces increasing pressure to adopt greener practices, Banle is actively positioning itself to meet the growing demand for sustainable marine fuels. The company’s recent acquisition of ISCC EU and ISCC Plus certifications demonstrates its commitment to complying with international regulations such as the FuelEU Maritime initiative and the IMO’s greenhouse gas reduction strategy.
Banle has made significant progress in the biofuel sector, establishing itself as a pioneer in providing stable biofuel supply at major ports. Notable milestones in this area include:
- July 14, 2023: Commencement of biofuel supply in Hong Kong.
- September 5, 2023: First export to China cargo supply.
- March 15, 2024: Introduction of biofuel supply in Guangzhou, China.
- April 13, 2024: Launch of biofuel supply in Shenzhen, China (Yantian).
- June 28, 2024: Inaugural biofuel supply in Port Klang, Malaysia.
These developments come at a time when the container shipping market is exceeding growth expectations. According to BIMCO, container volumes are expected to increase by 5 – 6% in 2024 and by 3 – 4% in 2025. Banle is well-positioned to leverage this growth, continuing to facilitate essential bunkering services that support the efficient and profitable operations of container liners worldwide.
“Since our Nasdaq listing, we have made remarkable strides in expanding our port coverage and enhancing our service offerings to meet the growing demands of our customers, the international shipping companies,” said Mr. Teck Lim Chia, Chairman & CEO of Banle Group. “Our expansion into Europe, with establishments in Ireland, underlines our commitment to developing our green marine fuels business, which is critical for our long-term sustainability goals.”
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. Established in 2015, Banle Group is dedicated to providing customers with a comprehensive solution for vessel refueling. As of August 28, 2024, Banle’s operations span over 60 major ports, including those in Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, Singapore, Taiwan, Thailand, Turkey, and Vietnam. The Group is actively promoting the use of alternative fuels and has been awarded ISCC EU and ISCC Plus certifications, reinforcing its commitment to sustainability and innovation in the marine fuel industry.
Source Banle Group