CBL International renames Singapore subsidiary to bolster regional growth strategy

CBL International Limited (CBL), the listing vehicle of marine fuel logistics firm Banle Group, on Monday (26 May) announced the official renaming of its Singapore-based wholly owned subsidiary, Majestic Energy (Singapore) Pte Ltd, to support its regional growth strategy.

Effective immediately, Majestic Energy (Singapore) Pte Ltd has been officially renamed to Banle International (Singapore) Pte Ltd, reflecting the Group’s deepening commitment to the Singapore market and its strategic expansion into sustainable fuels.

Singapore remains the world’s largest bunkering hub, with annual sales close to 55 million metric tonnes (mt) in 2024, increased by 6% year-over-year as compared to 2023, according to Maritime & Port Authority of Singapore (MPA) statistics. While conventional fuels still dominate the market, demand for sustainable fuels such as biofuels, LNG, and methanol continues to rise steadily. Notably, biofuel sales in the first four months of 2025 in Singapore have already surpassed 50% of the total volume recorded in 2024, according to MPA statistics.

As the primary fuel bunkering hub in the Asia-Pacific region, Singapore serves as a strategic base for CBL’s regional expansion. CBL’s revenue in Singapore increased by 102% year-over-year in 2024 as compared to 2023. 

In March 2025, CBL launched its first biofuel supply services in Singapore — a key regional port — as part of its broader initiative to offer sustainable fuel alternatives across the region, followed by biofuel supply in Malaysia, Hong Kong and various ports in China. 

CBL’s biofuel sales volumes and sales surged over 600% year-over-year in 2024, supported by strengthened supplier relationships and reliable supply chains. These efforts help customers meet IMO GHG targets while offering sustainable, cost-effective alternatives.

Dr. Teck Lim Chia, Chairman and CEO of CBL, said: “Singapore plays a pivotal role in our long-term growth strategy.”

“The renaming of our subsidiary underscores our strengthened presence in this critical market and reinforces our commitment to supporting the global maritime industry’s transition toward greener energy solutions.”

Despite the increasing competition in Singapore’s bunkering sector, CBL continues to differentiate itself through its agile operations and customer-centric approach. The company prides itself on its ability to adapt and tailor solutions to meet the specific needs of clients and suppliers, enabling it to capture new  opportunities in both traditional and emerging fuel segments.

Christofel Tian, Head of Singapore, said: “With our rebranding to Banle International (Singapore) Pte Ltd, we are not only aligning ourselves more closely with the Group’s identity but also signaling our long-term commitment to the Singapore market.”

“As the global bunkering landscape evolves, especially with the rapid adoption of sustainable fuels, we are well-positioned to grow alongside Singapore’s vision of becoming a leader in sustainable maritime solutions.”

With its robust regulatory environment, mature infrastructure, and strong government support, Singapore is well-positioned to maintain its leadership in the global bunkering market — and CBL is committed to growing alongside it.

Photo credit: Banle Group
Published: 27 May, 2025