Banle Energy Successfully Completes First Biofuel Bunker Operation at Port Klang, Malaysia

Banle Energy, a subsidiary of the reputable marine fuel logistics company Banle Group, has successfully completed the first-ever biofuel bunkering services at Port Klang, Malaysia, for Yang Ming, a top 10 container shipping company. This milestone, achieved in collaboration with Green Marine Supply and Armada Meridian, underscores Banle's commitment to supporting the shipping industry's transition towards cleaner fuels and aligns with the global push for reduced carbon emissions.

Banle Energy has strategically capitalized on the evolving regulatory landscape within the maritime sector, notably with the adoption of the 2023 International Maritime Organization (IMO) Strategy on Reduction of Greenhouse Gas (GHG) Emissions from Ships and the forthcoming FuelEU Maritime Regulation effective January 1, 2025. By securing ISCC EU and ISCC Plus certifications in 2023, recognized by the European Commission for the Renewable Energy Directive (RED II), Banle Energy has positioned itself as a frontrunner in the green marine fuel industry. This proactive stance underscores its commitment to becoming a leading provider of eco-friendly bunker solutions.

Port Klang, Malaysia's largest port and a key player among the top 20 busiest ports globally, holds a pivotal position in the country's economy, being located in its highest GDP-contributing state. The B24 biofuel, a blend of Used Cooking Oil Methyl Ester (UCOME) and traditional marine fuel, offers significant environmental benefits by potentially reducing Greenhouse Gas (GHG) emissions by about 20% compared to conventional marine fuel. This collaboration between a local refinery and Banle Energy not only guarantees a reliable biofuel supply in the region but also strengthens BANL's foothold in expanding its business throughout the Asia-Pacific region.

At the Bonn climate talks on June 3, 2024, the IMO reaffirmed its commitment to decarbonize global shipping by 2050, setting ambitious targets including sourcing at least 5% of international shipping energy from zero-emission fuels by 2030. This directive necessitates reducing traditional fuel consumption by 20-40 million tons by 2030, prompting a shift towards alternative fuels such as biofuels, LNG, LPG, and methanol. Banle Energy's successful launch of the B24 biofuel bunkering service exemplifies its dedication to supporting these global sustainability objectives.

Teck Lim Chia, Chairman and Chief Executive Officer, expressed his pride in achieving a significant milestone with Port Klang’s inaugural B24 biofuel bunkering services. He emphasized that this achievement not only marks a pivotal step in the Group's sustainable development journey but also underscores their contribution to the global shipping industry's transition towards low-carbon solutions. Teck Lim Chia affirmed that Banle Energy remains dedicated to expanding its business scope and fulfilling the varied needs of shipowner customers. This commitment aims to strengthen their position as a prominent supplier of ship fuel in the Asia-Pacific region, highlighting their ongoing efforts in advancing sustainable practices within maritime operations.