1H 2026 Financial and Operational Highlights

- Revenue of $395.59 million, an increase of 49.2% year-on-year, driven primarily by higher marine fuel prices amid geopolitical volatility and secondarily by volume growth.

- Sales volume grew 10.9%, supported by the cumulative benefits of multi-year network expansion, successful new customer acquisitions, and progressive customer diversification.

- Gross profit increased 140.5% to $6.53 million. Gross profit margin expanded 63 basis points to 1.65% from 1.02% in 1H2025, reflecting the Company’s ability to secure reliable supply and fulfill customer requirements at competitive pricing amid heightened market volatility.

- Returned to profitability with net income of approximately $1.50 million, compared with a net loss of $992,000 in 1H2025, mainly attributable to higher sales volumes, improved gross profit margin, continued operating expense discipline, and better operational efficiency.

- Global service network expanded to more than 70 ports across Asia Pacific, Europe, Australia, Africa, and Central America, strengthening CBL’s position as a global one-stop marine fuel logistics platform.

- In April 2026, acquired a 50.5% majority stake in Green Marine Energy Holdings Limited, expanding upstream into sustainable feedstock distribution and strengthening physical bunker capabilities in Malaysia.

- Banking facilities expanded as of June 30, 2026, providing enhanced financial flexibility to support working capital and growth initiatives.

- Subsequent events: On July 16, 2026, the Company announced a 1-for-13 reverse share split of its Class A and Class B ordinary shares, effective for trading on July 20, 2026. The reverse share split was effected primarily to regain compliance with Nasdaq’s minimum bid price requirement. On August 3, 2026, the Company received notification from Nasdaq that it had regained compliance with Nasdaq Listing Rule 5550(a)(2).

- The Company has declared a special cash dividend of $0.10 per share for both Class A and Class B ordinary shares, with a record date of August 28, 2026 and a distribution date of September 18, 2026.

Financial Performance Overview

The Company reported consolidated revenue of $395.59 million for the six months ended June 30, 2026, representing a 49.2% increase from $265.17 million in the same period of 2025. The increase was driven primarily by the surge in global oil prices arising from the escalation of Middle East geopolitical tensions and secondarily by the 10.9% growth in sales volume.

Gross profit rose 140.5% to $6.53 million from $2.71 million, while gross profit margin expanded from 1.02% in 1H2025 to 1.65% in 1H2026. This 63-basis-point improvement reflects CBL’s strengthened ability to secure reliable supply and meet elevated customer demand at competitive pricing amid tighter Middle East bunker availability and heightened market volatility. The multi-year investments in network coverage and supplier relationships enabled the Company to capture demand arising from vessel rerouting while protecting and expanding margins.

Click here to continue