Kuala Lumpur. File Image / Pixabay

• CBL International posts $1.5 million first-half net profit, reversing year-earlier loss
• Revenue up 49.2% to $395.59 million as volumes gain 10.9%
• Gross margin widens to 1.65% from 1.02% on tighter Middle East supply
• Special dividend of $0.10/share declared

Kuala Lumpur-based marine fuel logistics firm CBL International, the Nasdaq-listed arm of the Banle Group, has returned to profit in the first half of 2026.

The company posted net income of about $1.5 million for the six months to June 30, against a loss of $992,000 a year earlier, it said in its results announcement on Tuesday.

Revenue climbed 49.2% year-on-year to $395.59 million, driven primarily by higher fuel prices, while sales volume grew by 10.9%.

Gross profit more than doubled to $6.53 million, taking the company's gross margin to 1.65% from 1.02% a year earlier.

The company says the improvement reflects its ability to secure reliable supply at competitive prices amid tighter bunker availability in the Middle East, with its network capturing demand from vessels rerouted to Far East and intra-Asia corridors.

The turnaround follows a $3.87 million loss for 2024, when rapid expansion weighed on the group's profitability.

The firm's service network now covers more than 70 ports across Asia Pacific, Europe, Australia, Africa, and Central America.

The period also saw the company move upstream with April's purchase of a 50.5% stake in Malaysian bunker supplier Green Marine Energy Holdings.

A special cash dividend of $0.10/share has been declared, with a record date of August 28 and a distribution date of September 18.

"Our first half results mark an important milestone," said chairman and CEO Dr Teck Lim Chia.

"The acquisition of a majority stake in Green Marine further positions us upstream in the sustainable fuel value chain and strengthens our physical bunker capabilities in Malaysia."