CBL International Limited Announces Name Change of Singapore Subsidiary to Support Regional Growth Strategy

Kuala Lumpur, Malaysia, May 26, 2025 (GLOBE NEWSWIRE) -- CBL International Limited (NASDAQ: BANL) (“CBL” or the “Company”), the listing vehicle of Banle Group (“Banle” or the “Group”), a leading marine fuel logistics company in the Asia-Pacific region, today 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 tons 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, the Company 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.

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

About the Banle Group

CBL International Limited (Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable marine fuel logistic company based in the Asia Pacific region that was established in 2015. We are committed to providing customers with one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry. We facilitate vessel refueling mainly through local physical suppliers in over 60 major ports covering Belgium, China, Hong Kong, India, Japan, Korea, Malaysia, Mauritius, Panama, the Philippines, Singapore, Taiwan, Thailand, Turkey and Vietnam, as of 16 April 2025. The Group actively promotes the use of sustainable fuels and is awarded with the ISCC EU and ISCC Plus certifications.

For more information about our company, please visit our website at: .

Forward-Looking Statements

Certain statements in this announcement are not historical facts but are forward-looking statements. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “could,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “plan,” “should,” “would,” “plan,” “future,” “outlook,” “potential,” “project” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other performance metrics and projections of market opportunity. They involve known and unknown risks and uncertainties and are based on various assumptions, whether or not identified in this press release and on current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. Some important factors that could cause actual results to differ materially from those in any forward-looking statements could include changes in domestic and foreign business, markets, financial, political and legal conditions, geopolitical disruptions and other events that result in material changes in fuel prices. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

CBL INTERNATIONAL LIMITED

(Incorporated in Cayman Islands with limited liabilities)

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CBL International Limited

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Strategic Financial Relations Limited

Shelly Cheng Tel: (852) 2864 4857

Iris Au Yeung Tel: (852) 2114 4913

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