CBL International reports surge in biofuel sales by 154.7% year-on-year in 1H2025

CBL International Limited (CBL), the listing vehicle of the Banle Group (Banle), a marine fuel logistics company in the Asia-Pacific region, on Thursday (4 September) announced its unaudited financial results for the six months ended 30 June 2025 on 2 September 2025.

The company reported consolidated revenue of USD 265.17 million for the six months ended June 30,2025, representing a 4.4% decrease from USD 277.23 million in the same period of 2024. The decrease was mainly attributable to the decrease in the marine fuel price which was partially offset by the increase in the sales volume. 

The increase in sales volume was mainly driven by network expansion, new customer acquisitions, and expansion toward the non-container liner and biofuel segments. Furthermore, the Group’s network demonstrated the Group’s resilience to geopolitical impacts on the marine industry.

Gross profit remained stable at USD 2.71 million with an increase in sales volume to cope with the challenging competition in the market, while gross profit margin increased from 0.98% in 1H2024 to 1.02% in 1H2025. This margin expansion reflects the Company’s strategic approach to maintaining profitability while growing market share in a competitive environment.

The company reported a net loss of USD 992,000 for the six months ended June 30, 2025, representing a significant 38.8% improvement compared to a net loss of USD 1.62 million in the same period of 2024, primarily driven by disciplined cost management and operational efficiency initiatives that reduced operating expenses by 17% to USD 3.42 million from USD 4.12 million in 1H 2024. 

Cash and cash equivalents stood at USD 5.43 million as of June 30, 2025, supported by improved working capital management and expanded banking facilities of USD 50.0 million, providing enhanced financial flexibility for growth initiatives.

Additionally, biofuel sales demand was fueled by stricter environmental regulations, including IMO’s Carbon Intensity Indicator and the EU’s FuelEU Maritime, and surged 154.7% year-on-year in 1H2025, with volumes up 189.5%, reinforcing CBL’s forerunning position in sustainable marine fuels. The company stayed ahead of this trend with the successful rollout of its B24 biofuel in China, Hong Kong, and Malaysia, followed by a 2025 launch in Singapore. The B24 blend, comprising 76% conventional fuel and 24% UCOME, delivers a 20% reduction in greenhouse gas emissions compared to traditional marine fuels.

Despite the unpredictability of U.S. trade policy, oil prices, and geopolitical risks, CBL remains cautiously optimistic about the outlook as further uncertainties could impact our results of operations for a particular period. Regarding the ongoing instability in the Red Sea, where vessels were rerouted via the Cape of Good Hope, CBL targeted the increased demand from rerouted vessels, ensuring that our strategic supply chain could meet these demands, allowing us to maintain the stability of our offerings and capitalize on the opportunities created by these disruptions.

Dr. Teck Lim Chia, Chairman and CEO of CBL International Limited, stated: “Our first half results highlight significant strategic progress. Despite a challenging macro backdrop, we successfully expanded our global network, accelerated our biofuel transition with triple-digit growth, and narrowed our net loss by nearly 40%. These achievements underscore our resilience, operational discipline, and confidence in long-term growth.

As regulations tighten and customer demand for sustainable marine fuels accelerates, CBL is uniquely positioned as an early mover with the ISCC certifications and supply partnerships to lead the market transition. We remain focused on executing our strategy to deliver profitable growth and long-term shareholder value. ”

Looking ahead, CBL expects to:

• Further scale its biofuel supply chain and explore LNG and methanol, leveraging regulatory support and customer adoption.
• Continue expanding port coverage to enhance global connectivity.
• Maintain disciplined cost management and capitalize on financial flexibility to invest in sustainable fuels and potential shareholder return initiatives.

Photo credit: Banle Group
Published: 5 September, 2025