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Banle Group, a marine fuel logistic company in the Asia Pacific region, highlighted its strategies for sustainable growth during an Investor Webinar. The Chairman and CEO discussed business strategies, capital structure, expansion plans, and initiatives in alternative fuels. The Group aims to maintain its leading position in the market and expand into Europe.
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End-of-Day
-1.82%
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Banle Group, a marine fuel logistic company in the Asia Pacific, reported its audited financial results for 2023. Despite a 5.8% drop in revenue, the company saw a surge in sales volume by 18% due to expansion into Europe and biofuel trading activities. Gross profit decreased by 21.0% primarily due to a more diversified customer base post-IPO. Operating expenses increased by $1.2 million, driven by listing expenses and business expansion efforts. Net income dropped to $1.1 million from $3.7 million in 2022.
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9.14%
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Banle Energy International , a subsidiary of Banle Group (NASDAQ: BANL), collaborates with PetroChina Fuel Oil Co. to provide B24 biofuel bunkering services for Yang Ming's vessel, YM Utility, in Yantian, Shenzhen. This supports the first B24 biofuel supply in Shenzhen and Yang Ming's inaugural B24 biofuel bunkering in China, reducing GHG emissions by approximately 20%. Teck Lim Chia, Chairman and CEO, aims to make a positive impact on the shipping industry by promoting biofuels.
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Banle Group (Nasdaq: BANL) to file Form 20-F for the year ended December 31, 2023, and host Investor Webinar to discuss business strategies and recent developments.
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Banle Energy International Limited, a subsidiary of CBL International Limited (NASDAQ: BANL), successfully arranged bunkering services for BYD Explorer No. 1 at the Port of Antwerp, enhancing its presence in Europe and strengthening partnerships in the maritime industry.
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-9.4%
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Banle Energy International Limited, a subsidiary of CBL International Limited (NASDAQ: BANL), has provided bunkering services to support the inaugural journey of BYD's first car carrier, BYD Explorer 1, at a port in China. BYD, a Chinese EV manufacturer, overtook Tesla in EV sales in the last quarter of 2023, becoming the world’s largest EV manufacturer. CBL has expanded its presence to over 55 ports across the Asia Pacific, Belgium, Turkey, and recently opened an office in Ireland. The company has also been approved for biofuel trading activities, positioning them as one of the first batch of B24 biofuel suppliers in Hong Kong.
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11.85%
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CBL International Limited files Form 6-K Account Report with SEC, reporting a 5.9% increase in net income and a slight decrease in consolidated gross profit. Consolidated revenue decreased by 18.6% due to lower marine fuel prices. Total shareholders' equity increased by $13,202,000.
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CBL International Limited (Nasdaq: BANL) has achieved several milestones in 2023, including expanding its footholds in Antwerp, Istanbul, and Yokkaichi, bringing its services to over 40 ports and opening up the European market. The company aims to increase its presence in international markets to maximize operations and profitability. CBL also made progress in sustainable initiatives, delivering its first B24 biofuel bunkering order in Hong Kong and obtaining ISCC EU and ISCC Plus certificates to trade biofuel within the supply chain. The company is committed to reducing greenhouse gas emissions and promoting sustainable practices within the marine industry.
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8.22%
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CBL International Limited Ordinary Shares
Nasdaq:BANL
BANL Rankings
BANL Stock Data
25.85M
3.75M
99.05%
0.08%
0.12%
Pipeline Transportation of Crude Oil
Transportation and Warehousing
United States of America
Kuala Lumpur
About BANL
cbl international is an international education institution providing courses in business, law, and cultural matters. we have been successfully delivering academic study abroad programmes for eight years in various prestigious locations and global cities around the world, such as australia, cambridge, china, dubai, and oxford. our delegates are the foundation of our success, and cbl international has consistently provided opportunities to enhance career prospects and educational growth in key areas for the purpose of future success. through short, but extensive programmes it is our aim to introduce locations to our delegates that are currently relevant or will gain relevance in the future. we strive for academic excellence, and this can be witnessed through our comprehensive courses, the outstanding educational institutions we work with in different parts of the world, the international faculties and firms we have unique partnerships with. our motivation to broaden delegate’s education