Banle Group Makes Strategic Entry into India with Successful Inaugural Bunkering Service at Mundra Port
July 19 2024 - 11:54AM
CBL International Limited (the “Company” or “CBL”)
(NASDAQ: BANL), the listing vehicle of
Banle Group
(“Banle” or “the Group”), a reputable marine fuel logistic company
in the Asia-Pacific region, today announced the successful
completion of its inaugural bunkering service in India on July 11.
This landmark operation was conducted at Mundra Port, Gujarat, one
of India's largest and most strategically important ports. This
achievement marks a significant step forward in Banle's expansion
strategy and underscores its commitment to enhancing operational
capabilities and market presence in key global regions.
Strategic Importance of Mundra Port
Mundra Port is renowned for its pivotal role in
India's maritime logistics, handling over 155 million metric tonnes
(MT) of cargo as of November 2023, the highest in India. The port
serves as a critical export-import gateway, facilitating
approximately 33% of India's container traffic. Its advanced
infrastructure, including the capability to handle large vessels,
positions it as a crucial hub for seaborne trade and economic
growth, aligning with India's ambition to become a $5 trillion
economy by 2025.
Operational Details
The successful bunkering service provided to a
global integrated logistics and shipping company at Mundra Port
highlights Banle’s operational excellence and commitment to
delivering high-quality services in key strategic locations.
Positive Operational Impact
This milestone is expected to have a positive
impact on Banle’s operational performance. Establishing a footprint
in India's rapidly growing maritime market enhances Banle's ability
to expand network and increase market share. The successful
operation at Mundra Port strengthens relationships with key
clients, driving sustainable growth.
"We are thrilled to include our operations into
the Indian market with our inaugural bunkering service at Mundra
Port. This achievement reflects our strategic vision and dedication
to growth in key regions," said Mr. Teck Lim Chia, Chairman
& CEO of Banle Group. "We look forward to building on
this success and enhancing our service offerings to meet the
evolving needs of our global clients."
About the Banle Group
Established in 2015, CBL International Limited
(Nasdaq: BANL) is the listing vehicle of Banle Group, a reputable
marine fuel logistic company in the Asia Pacific region. We are
committed to providing customers with one-stop solution for vessel
refuelling. Banle Group’s business activities are primarily focused
in over 55 major ports covering Belgium, China, Hong Kong, India,
Japan, Korea, Malaysia, Mauritius, Singapore, Taiwan, Thailand,
Turkey and Vietnam, as of 15 May 2024. The Group actively promotes
the use of alternative fuels and is awarded with the ISCC EU and
ISCC Plus certifications.
For more information about our company, please
visit our website at: https://www.banle-intl.com.
Forward-Looking Statements
Certain statements in this announcement are not
historical facts but are forward-looking statements.
Forward-looking statements generally are accompanied by words such
as “believe,” “may,” “could,” “will,” “estimate,” “continue,”
“anticipate,” “intend,” “expect,” “plan,” “should,” “would,”
“plan,” “future,” “outlook,” “potential,” “project” and similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters, but the absence of
these words does not mean that a statement is not forward-looking.
These forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of other performance
metrics and projections of market opportunity. They involve known
and unknown risks and uncertainties and are based on various
assumptions, whether or not identified in this press release and on
current expectations of BANL’s management and are not predictions
of actual performance. These forward-looking statements are
provided for illustrative purposes only and are not intended to
serve as and must not be relied on by any investor as, a guarantee,
an assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of BANL. Some
important factors that could cause actual results to differ
materially from those in any forward-looking statements could
include changes in domestic and foreign business, market,
financial, political and legal conditions. The Company undertakes
no obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's registration statement and other filings with the
SEC.
For more information, please
contact:
CBL International Limited
Email: investors@banle-intl.com
Strategic Financial Relations
Limited
Shelly
Cheng Tel:(852)
2864 4857Iris Au
Yeung Tel:(852)
2114 4913Email: sprg_cbl@sprg.com.hk
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