CBL International Limited, a leading marine fuel logistics company in the Asia-Pacific region, reported a 49.2% year-on-year increase in revenue for the first half of 2026, driven by higher marine fuel prices and volume growth. The company announced a special cash dividend of $0.10 per share.
For the six months ended June 30, 2026, CBL's revenue reached $395.59 million, up from $265.17 million in the same period of 2025. The surge in global oil prices, fueled by geopolitical tensions in the Middle East, was a primary factor, alongside a 10.9% increase in sales volume.
Gross profit rose by 140.5% to $6.53 million, with the gross profit margin expanding to 1.65% from 1.02% in the previous year. This improvement reflects CBL's ability to secure a reliable supply and meet customer demands amid market volatility.
The company returned to profitability, reporting a net income of approximately $1.50 million, compared with a net loss of $992,000 in the first half of 2025. Operating income was $3.04 million, reversing a loss of $701,000 from the prior year.
CBL expanded its global service network to over 70 ports across Asia Pacific, Europe, Australia, Africa, and Central America, solidifying its position as a comprehensive marine fuel logistics platform. In April 2026, the company acquired a 50.5% stake in Green Marine Energy Holdings Limited, enhancing its sustainable feedstock distribution and physical bunker capabilities in Malaysia.
Operating expenses increased slightly by 2.2% year-on-year to $3.49 million. Selling and distribution expenses rose by 9.6%, while general and administrative expenses remained stable.
Despite geopolitical disruptions, including Middle East conflicts and U.S. tariff policies, CBL demonstrated resilience by leveraging its diversified supplier network to meet elevated demand. The company's focus on regulatory compliance and sustainable fuel initiatives was highlighted by its acquisition of Green Marine, which strengthens its position in the sustainable fuel value chain.
Chairman and CEO Dr. Teck Lim Chia emphasized the company's strategic achievements and its preparedness for evolving maritime decarbonization regulations. CBL plans to integrate Green Marine's capabilities, expand its sustainable energy portfolio, and explore LNG and methanol solutions to support customer decarbonization goals.
The company remains vigilant regarding geopolitical risks and oil price volatility while maintaining a cautiously optimistic outlook for the remainder of 2026. CBL aims to continue disciplined cost management and operational efficiency to support growth initiatives and shareholder value.
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