Banle Group makes its first move outside Asia Pacific to Istanbul and Antwerp

Marine fuel logistics firm Banle Group on Tuesday (20 June) said it is expanding its bunkering services to Istanbul, Antwerp and Yokkaichi.

“We are proud to announce that we have expanded our presence to Istanbul (Turkey) and Antwerp (Belgium). It is our first move in the region outside Asia Pacific and we are expecting to continue to broaden our supply network,” the firm said in a social media post. 

“Furthermore, we had also reached out to Japan which is a new frontier to us in our Asia Pacific region. Yokkaichi (Japan) is now under our vessel refuelling network.”

Since its successful listing on Nasdaq Capital Market in March this year, the firm has expanded its marine fuel supply network from 36 ports to over 40 ports, 14 of which are ranked within the top 20 container ports in 2022. The ports include Japan, Korea, China, Hong Kong, Taiwan, Vietnam, Malaysia, Singapore, and Thailand.

“The strategic move to continuously expanding our supply network allows us to offer more options and flexibility to our customers to fulfill their bunkering needs,” it said.

Manifold Times recently conducted an exclusive interview with Banle where it shared details on how much was raised in the successful listing of CBL International Limited, its listing vehicle, on Nasdaq Capital Market and its plans on using the net proceeds to further grow and strengthen its bunkering business. 

During the interview, Mr. Teck Lim Chia, Chairman and Chief Executive Officer, said Banle intended to establish new business relationships with additional local bunker suppliers in additional ports by making use of the proceeds from the initial public offering. 

Related: Exclusive: Banle Group sets sights on expanding bunker supply network with successful IPO on Nasdaq
Related: Malaysia: Straits Energy associate CBL International to be listed on Nasdaq

Photo credit: Banle Group
Published: 20 June, 2023