CBL International Limited (Nasdaq: BANL), a leading marine fuel logistics company in the Asia-Pacific region, announced its unaudited financial results for the first half of 2026, reporting a significant increase in revenue and a return to profitability. The company also declared a special cash dividend of $0.10 per share.
For the six months ended June 30, 2026, CBL reported revenue of $395.59 million, a 49.2% year-on-year increase, primarily driven by higher marine fuel prices due to geopolitical volatility and a 10.9% growth in sales volume. The company's gross profit surged 140.5% to $6.53 million, with the gross profit margin expanding by 63 basis points to 1.65%.
CBL returned to profitability with a net income of approximately $1.50 million, compared to a net loss of $992,000 in the same period last year. This improvement was attributed to higher sales volumes, improved gross profit margins, disciplined operating expenses, and enhanced operational efficiency.
The company's global service network expanded to over 70 ports across Asia Pacific, Europe, Australia, Africa, and Central America. This expansion strengthens CBL's position as a global marine fuel logistics platform. In April 2026, CBL acquired a 50.5% majority stake in Green Marine Energy Holdings Limited, enhancing its capabilities in sustainable feedstock distribution and physical bunkering in Malaysia.
Subsequent to the reporting period, CBL conducted a 1-for-13 reverse share split to regain compliance with Nasdaq's minimum bid price requirement, which was successfully achieved by August 3, 2026. The special cash dividend of $0.10 per share will be distributed on September 18, 2026, to shareholders of record as of August 28, 2026.
Chairman and CEO Dr. Teck Lim Chia highlighted the company's strategic achievements, noting the resilience of CBL's business model amid geopolitical disruptions and market volatility. He emphasized the importance of the acquisition of Green Marine in positioning CBL upstream in the sustainable fuel value chain.
Looking ahead, CBL plans to further integrate Green Marine's capabilities, scale biofuel offerings, and explore LNG and methanol solutions to support decarbonization goals. The company remains focused on disciplined cost management, operational efficiency, and leveraging expanded banking facilities to support growth initiatives and potential shareholder returns.
CBL remains vigilant regarding geopolitical risks, oil price volatility, and regulatory changes, while maintaining a cautiously optimistic outlook for the remainder of 2026 and beyond.