Kuala Lumpur-based marine fuel logistics firm CBL International has reported a return to profitability for the first half of 2026, according to the company’s results announcement covered by Ship & Bunker.
The Nasdaq-listed arm of the Banle Group posted net income of approximately $1.5 million for the six months ending June 30, reversing a loss of $992,000 recorded in the same period a year earlier, Ship & Bunker reports.
Revenue and Margin Growth
According to Ship & Bunker, CBL International’s revenue climbed 49.2% year-on-year to $395.59 million, a rise the company attributes primarily to higher fuel prices. Sales volume also increased, growing by 10.9% over the same period.
Gross profit more than doubled to $6.53 million, according to the report, pushing the company’s gross margin up to 1.65% from 1.02% a year earlier. CBL International says this margin improvement stems from its ability to secure reliable fuel supply at competitive prices during a period of tighter bunker availability in the Middle East. The company’s network reportedly captured additional demand from vessels rerouted toward Far East and intra-Asia corridors as a result.
Turnaround From 2024 Losses
Ship & Bunker notes that this result follows a $3.87 million loss recorded for full-year 2024, when the company’s rapid expansion had weighed on profitability. CBL International’s service network now spans more than 70 ports across Asia Pacific, Europe, Australia, Africa, and Central America, according to the report.
During the first half of 2026, the company also moved further upstream in the fuel supply chain, completing the purchase of a 50.5% stake in Malaysian bunker supplier Green Marine Energy Holdings in April, Ship & Bunker reports.
Chairman and CEO Dr Teck Lim Chia was quoted in the announcement as saying: “Our first half results mark an important milestone. The acquisition of a majority stake in Green Marine further positions us upstream in the sustainable fuel value chain and strengthens our physical bunker capabilities in Malaysia.”
The company has also declared a special cash dividend of $0.10 per share, with a record date of August 28 and a distribution date of September 18, according to Ship & Bunker.
Does This Matter to You?
CBL International’s results offer a window into how bunker suppliers are navigating tighter Middle East fuel availability and shifting vessel routing patterns. The company’s report of capturing demand from ships rerouted to Far East and intra-Asia corridors may be of interest to those tracking regional supply dynamics and how logistics networks adapt to disruptions.
The move upstream via the Green Marine Energy Holdings acquisition also reflects a broader trend of bunker suppliers seeking greater control over physical fuel supply chains, particularly in Southeast Asia. Those monitoring supplier consolidation or regional bunkering capacity in Malaysia may find this development relevant to broader market conditions.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
