HONG KONG, April 15, 2024 (GLOBE NEWSWIRE) -- On April 14, 2024, Banle Energy International Limited, a subsidiary of the Banle Group (NASDAQ:BANL), a reputable marine fuel logistic company in the Asia Pacific region, in collaboration with PetroChina Fuel Oil Co. Ltd., is delighted to announce the arrangement of B24 biofuel bunkering services for Yang Ming's vessel, YM Utility, at a port in Yantian, Shenzhen. By providing Yang Ming with our B24 biofuel bunkering services, this transaction supports the first ...

香港, April 11, 2024 (GLOBE NEWSWIRE) -- 万利集团（美国纳斯达克交易所代码：BANL），亚太地区领先的船舶燃油供应公司，今天公布将于2024年4月18日（星期四）提交截至 2023年12月31日的全年财务报告。 万利集团将于北美东部标准时间2024年4月23日（星期二）上午9时举行投资者网络研讨会。在网络研讨会上，万利集团主席兼行政总裁谢威廉先生和首席财务总监赵承忠先生将讨论集团的商业策略和最新发展情况。 网络研讨会现已接受登记。我们诚邀分析师和投资者通过以下连结进行登记：https://edge.media-server.com/mmc/p/uy27zdjf 关于万利集团 万利集团成立于 2015 年，以CBL国际有限公司（CBL International Limited）（纳斯达克: BANL）在纳斯达克股票市场上市。集团成立至今，一直致力于为船东客户提供一站式船舶燃油供应服务。目前，集团船舶燃油供应服务主要遍布日本、韩国、中国、香港、台湾、越南、马来西亚、新加坡、泰国、土耳其和比利时，共覆盖超过55个港口。集团积极推动替代燃料，並已取得ISCC EU 和 ISCC ...

HONG KONG, April 09, 2024 (GLOBE NEWSWIRE) -- Banle Group (NASDAQ:BANL), a reputable marine fuel logistic company in the Asia Pacific, announced today it will file its annual report on Form 20-F for the year ended December 31, 2023 on Thursday, April 18, 2024. Banle Group will host an Investor Webinar on Tuesday, April 23, 2024, at 9:00 am EST. During the webinar, Mr. Teck Lim Chia, Banle Chairman & Chief Executive Officer and Mr. Raymond Chiu, Banle Chief Financial Officer will discuss the Group's business ...

HONG KONG, April 09, 2024 (GLOBE NEWSWIRE) -- Banle Group (Nasdaq: BANL), a reputable marine fuel logistic company in the Asia Pacific, announced today it will file its annual report on Form 20-F for the year ended December 31, 2023 on Thursday, April 18, 2024. Banle Group will host an Investor Webinar on Tuesday, April 23, 2024, at 9:00 am EST. During the webinar, Mr. Teck Lim Chia, Banle Chairman & Chief Executive Officer and Mr. Raymond Chiu, Banle Chief Financial Officer will discuss the Group’s busines ...

HONG KONG, Feb. 27, 2024 (GLOBE NEWSWIRE) -- On February 23, 2024, Banle Energy International Limited, a subsidiary of CBL International Limited (NASDAQ:BANL), is pleased to announce another successful arrangement of bunkering services for BYD Explorer No. 1 at the Port of Antwerp. This achievement further builds upon our previous bunkering services provided to BYD. The Port of Antwerp, which is the second largest port in Europe with connections to over 800 destinations worldwide, serves as a strategic hub ...

香港, Jan. 16, 2024 (GLOBE NEWSWIRE) -- 2024年1月9日，萬利能源國際有限公司 (CBL國際有限公司 (CBL International Limited) 子公司) (納斯達克：BANL) 有幸為比亞迪第一艘汽車運輸船 (BYD Explorer 1) 的首航安排於中國的港口進行燃油交付。比亞迪是中國汽車製造商，主要出產純電動汽車。據美國《華爾街日報》網站1月2日的報導，比亞迪純電動汽車的2023年第4季度銷量首次超過特斯拉 (Tesla)，成為全球最大的電動汽車銷售商。 根據Seatrade Maritime新聞報導，BYD Explorer 1於中國煙台港進行燃油交付後，將停靠深圳港完成汽車裝載，隨後前往歐洲完成出口。 CBL國際有限公司主席兼行政總裁謝威廉 (William Chia) 先生表示：「我們非常榮幸參與這個重要的里程碑，並感謝比亞迪對我們船舶燃油供應服務的信任。CBL擁有強大的網路，並具備在全球20大集裝箱港口中的17個港口提供船舶燃油供應服務的能力。為進一步加強集團在歐洲的網路，我們制訂了歐洲的擴展計劃，並在2023年第4季度於愛爾蘭開設了辦事處，實 ...

HONG KONG, Jan. 16, 2024 (GLOBE NEWSWIRE) -- On January 9, 2024, Banle Energy International Limited, a subsidiary of CBL International Limited (NASDAQ:BANL), proudly announced that it has arranged bunkering services to support the inaugural journey of BYD's first car carrier, BYD Explorer 1, at a port in China. BYD is a Chinese manufacturer of electric vehicles (EV). According to 'The Wall Street Journal', BYD overtook Tesla's EV sales in the last quarter of 2023 and became the world's largest EV manufactur ...

Financial Performance - Consolidated revenue increased by approximately $136.37 million or 41.8%, from approximately $326.54 million in 2021 to approximately $462.91 million in 2022[106] - Net income rose by approximately $116,000 or 3.3%, from approximately $3.57 million in 2021 to approximately $3.69 million in 2022[109] - Gross profit for the year ended December 31, 2022, was approximately $9.13 million, an increase of $1.53 million or 20.2% compared to 2021[112] - Consolidated gross profit for 2022 was approximately $9,125,000, an increase of $1,534,000 or 20.2% compared to 2021, driven by increased gross profit per ton of marine fuel sold[178] - Total operating costs and expenses for 2022 were approximately $3,153,000, an increase of $761,000 or 31.8% compared to 2021, mainly due to higher selling and distribution costs and general and administrative costs[178] - Net income for 2022 increased by approximately $116,000 or 3.3% to approximately $3,685,000 from approximately $3,569,000 in 2021[179] - Net cash provided by operating activities was $3,499,000 for 2022, compared to a net cash used of $2,507,000 in 2021, indicating improved cash flow generation[185] - Net cash used in investing activities was $373,000 in 2022, primarily for office equipment and renovations, compared to $19,000 in 2021[187] Market Conditions - The average brent crude oil price in 2022 surged by 42.4% to $100.94 per barrel, compared to $70.89 per barrel in 2021[113] - The anticipated marine fuel price for 2023 is expected to remain between $570 and $580 per metric ton, with a fluctuation range of approximately 10% to 15%[113] - The company anticipates that crude oil prices will remain stable with a fluctuation range of approximately 10% to 15% in 2023, barring any external crises[174] - Average marine fuel prices rose from approximately $572.2 per metric ton in 2021 to approximately $778.8 per metric ton in 2022, representing an increase of approximately 36.1%[177] Operational Overview - The company operates in 36 ports across the Asia Pacific, with 13 of these ports being among the top 20 container ports globally in 2020[106] - The company has established a stable supply network in 34 major ports in the Asia Pacific, enhancing its competitive position in the bunkering industry[118] - The company operates a marine fuel logistics business, facilitating vessel refueling services across 36 ports in the Asia Pacific, including 20 ports in the PRC[167] - The Asia Pacific region accounted for approximately 46.8% of global marine fuel consumption volume in 2021, highlighting the strategic importance of the company's operations in this area[169] - The company has expanded its servicing network to cover more ports and offers value-added services to enhance customer satisfaction[167] - The company coordinates vessel refueling activities to align with customers' schedules during port visits, ensuring timely service delivery[168] - The company arranges local physical delivery of marine fuel to meet customer schedules, enhancing operational efficiency[168] Compliance and Regulations - The company has complied with Malaysian laws and regulations on employment, labor, health, and safety, with no non-compliance incidents reported[124] - Under the Occupational Safety and Health Act 1994, non-compliance can result in fines up to RM50,000 or imprisonment for up to two years[128] - The Employment Act 1955 governs employment practices, with minimum benefits for employees, and violations can lead to fines up to RM50,000[131][133] - The Minimum Wages Order 2022 sets the minimum wage at RM1,500 per month or RM7.21 per hour, with penalties of up to RM10,000 for non-compliance[139] - Employers must ensure workplace safety under the Occupational Safety and Health Ordinance, with fines of HK$200,000 for non-compliance[147] Corporate Governance - The company has established three committees under the board of directors: an audit committee, a compensation committee, and a nominating and corporate governance committee[218] - The audit committee consists of three independent directors, with Mr. Ong qualifying as an "audit committee financial expert"[219] - The compensation committee is responsible for reviewing and approving compensation for executive officers, ensuring independence from management during deliberations[221] - The nominating and corporate governance committee assists in selecting qualified individuals for the board and evaluating its performance[222] - Major shareholders include CBL (Asia) Limited with 52.7% ownership and Straits Energy Resources Berhad with 32.3% ownership[235] Taxation and Financial Obligations - Resident companies with revenue exceeding RM50 million are taxed at a rate of 24%, while those with revenue less than RM50 million are taxed at 17% for the first RM600,000[141] - The Labuan Business Activity Tax Act 1990 imposes a tax rate of 3% on chargeable profits for Labuan trading activities[142] - The Mandatory Provident Fund Scheme requires both employer and employee to contribute 5% of the employee's monthly income, subject to limits[144] - As of December 31, 2022, total contractual obligations amounted to approximately $462,517,000, including operating lease obligations of $353,171 and derivatives obligations of $109,346[181] Shareholder Information - The company's authorized share capital is $50,000, divided into 500,000,000 ordinary shares with a par value of $0.0001 each, and 25,000,000 ordinary shares are issued and outstanding[247] - The ordinary shares are listed on the Nasdaq Capital Market under the symbol "BANL," and began trading on March 23, 2023[245] - The company has not adopted any equity compensation plans and had no outstanding equity awards as of December 31, 2022[229][231] Miscellaneous - The company has not undertaken any research and development activities in the past three years[194] - There are no known trends or uncertainties that are likely to materially affect total net revenues, income, profitability, liquidity, or capital reserves for the year ended December 31, 2022[195] - The company believes its cash and cash equivalents, along with available funds from its credit facility, are sufficient to fund working capital and capital expenditure requirements for at least the next twelve months[192] - The company has not reported any material limitations on the right of non-residents or foreign owners to hold or vote its common stock[250]