CBL International Limited (NASDAQ: BANL), the listing vehicle of Banle Group — a leading marine fuel logistics company in the Asia-Pacific region — has officially announced the renaming of its wholly owned Singapore-based subsidiary. Formerly known as Majestic Energy (Singapore) Pte Ltd, the entity will now operate under the name Banle International (Singapore) Pte Ltd, a strategic move aimed at reinforcing the Group’s brand alignment and its ambitious regional growth plans.
CBL International strengthens its identity in Singapore’s bunkering hub with a new name and a renewed focus on sustainable marine fuels.
The name change, which takes effect immediately, underscores CBL’s deepening commitment to the Singapore market and its continued expansion into sustainable marine fuel solutions. Singapore, the world’s largest bunkering port, continues to play a vital role in CBL’s operational strategy.
Strengthening Presence in the Global Bunkering Hub
According to the Maritime and Port Authority of Singapore (MPA), the country recorded approximately 55 million metric tons of bunker sales in 2024, marking a 6% year-on-year increase from 2023. While conventional marine fuels still dominate the landscape, demand for alternative and sustainable fuels such as biofuels, LNG, and methanol has surged. In a notable development, biofuel sales in the first four months of 2025 have already exceeded 50% of the total biofuel volume sold in all of 2024, reflecting accelerating market adoption.
CBL is actively riding this wave of change. In March 2025, the Company launched its first biofuel supply services in Singapore, followed by operations in Malaysia, Hong Kong, and several ports in China. This strategic rollout is part of CBL’s broader mission to offer cleaner, sustainable energy alternatives across the region, supporting clients in their efforts to comply with IMO greenhouse gas (GHG) reduction targets.
“Our revenue in Singapore more than doubled in 2024, growing by 102% year-over-year, which reflects the market’s confidence in our capabilities and solutions,” stated Dr. Teck Lim Chia, Chairman and CEO of CBL. “The renaming of our Singapore subsidiary is more than symbolic. It signifies our long-term dedication to Singapore’s evolving energy landscape and our role in driving sustainable change within the global maritime sector.”
Adapting to Market Needs with Agility
Singapore’s bunkering industry is not without competition, but CBL believes its agility and customer-centric approach remain strong differentiators. The company continues to tailor bespoke fuel solutions for shipping clients, supported by a robust supply chain and strategic partnerships with physical suppliers.
In 2024, CBL’s biofuel sales volume and revenue increased by over 600% year-over-year, demonstrating both growing demand and the Company’s operational readiness to meet it. The Group holds ISCC EU and ISCC Plus certifications, further validating its commitment to traceable and sustainable fuel solutions.
Christofel Tian, Head of Singapore, emphasized the importance of aligning with the Group’s broader brand and mission. “With our rebranding to Banle International (Singapore) Pte Ltd, we are not only strengthening our identity under the Banle umbrella but also reinforcing our long-term investment in Singapore,” he said. “As the global bunkering sector embraces sustainability, we aim to contribute meaningfully to Singapore’s ambition of becoming a global leader in green maritime energy.”
Positioned for the Future
Singapore continues to provide an ideal environment for innovation and growth in marine fuel logistics. With a strong regulatory framework, advanced infrastructure, and active government support for sustainability, the city-state is well-placed to maintain its leadership in the global bunkering industry.
CBL’s transformation and strategic investments affirm its readiness to navigate the evolving maritime fuel landscape, focusing on both growth and environmental responsibility.
About CBL International Limited – Banle Group
Founded in 2015, CBL International Limited is the listed entity of the Banle Group, a trusted marine fuel logistics provider in the Asia-Pacific region. Operating across over 60 major global ports, including Singapore, China, Japan, Belgium, and the UAE, the Group delivers integrated refueling services primarily through local physical bunker suppliers. CBL promotes sustainability through its certified alternative fuel offerings, contributing to a cleaner, more efficient maritime industry.
For more details, visit CBL International’s official website.
Source CBL International Limited – Banle Group