PTL
Coordinates marine-fuel purchases, vessel refuelling and trade-credit support across Asia-Pacific ports.
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Profile
Coordinates marine-fuel purchases and vessel refuelling, selling fuel at a premium while third-party suppliers deliver directly to customers' vessels. The asset-light Hong Kong-centered model combines trade credit and logistics support, alongside newly started licensed trade and receivables financing.
Coordinates vessel refuelling, buying low-sulfur fuel oil, high-sulfur fuel oil and low-sulfur marine gas oil in its own name while third-party suppliers deliver directly to container ships, bulk carriers, cargo vessels and chemical tankers. Operations are negotiated and booked through Hong Kong, with delivery activity concentrated in its ports and a smaller presence in Singapore and mainland China.
Earns a premium over marine-fuel reference prices by sourcing suppliers, aggregating demand, negotiating prices, extending trade credit, managing port or schedule changes, and handling delivery disputes. The recently added Hong Kong financing activity offers trade finance, receivables financing and factoring. Physical delivery, supplier permits and licences, customer collections and working-capital terms remain external dependencies.
Company facts
Key statistics
Year to date −6.3% · Average volume (30d) 11.1K
Analysts
No analyst consensus on record.
Earnings
Not reported.
Financial highlights
| 6 quarters | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | |
|---|---|---|---|---|---|---|---|
| Revenue | $5.6M | $7.4M | $6.4M | $6.1M | $5.6M | $3.6M | |
| Gross profit | $160.3K | $84.3K | $145.8K | $162.9K | $70.2K | $46.3K | |
| Operating income | $132.2K | $6.5K | $53.8K | −$664.6K | $227.6K | −$284.2K | |
| Net income | $114.0K | $5.5K | $41.0K | −$680.2K | $155.2K | −$306.4K | |
| Diluted EPS | $0.79 | $0.02 | $0.29 | −$4.78 | $0.51 | −$0.25 | |
| Gross margin | 2.8% | 1.1% | 2.3% | 2.6% | 1.3% | 1.3% | |
| Operating margin | 2.3% | 0.1% | 0.8% | -10.8% | 4.1% | -7.9% |
Revenue by geography · FY25
Balance sheet, Dec 31, 2025Cash & short-term investments $139.6K · Total debt — · Total assets $1.6M · Shareholders' equity $1.1M
Dividends
No dividends on record.
Ownership
Shares outstanding 421.3K · Float 75.0K · 17.8% free float
A split settled inside the quarter being compared, so quarter-on-quarter change is not shown.
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ying Ying Chow · director, 10 percent owner, officer: Chief Executive Officer | 140.6K | 33.38% | Form 4 | Mar 26, 2026 |
| UBS Group AG | 2.7K | 0.63% | 13F | May 5, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
View detailsPeers
- CBL International
Closest listed peer in Asia-Pacific marine-fuel facilitation.
- World Kinect
Global marine-fuel procurement and supply at much larger port scale.
- Shell (ADR)
Integrated bunkering network for the same conventional fuel grades.
- TotalEnergies
Singapore-based global bunkering supplier with low-carbon fuel breadth.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| PTL | $8.30 | +2.47% | $3.4M | — | — | 0.4 | — |
| CBL International | $15.30 | −4.97% | $34.1M | — | — | 0.2 | — |
| World Kinect | $35.45 | −0.03% | $1.81B | — | 12.8 | 0.0 | +50.0% |
| Shell (ADR) | $91.47 | +0.63% | $253.47B | 10.0 | 9.2 | 0.8 | +44.7% |
| TotalEnergies | $86.31 | −0.05% | $192.30B | 10.9 | 8.4 | 1.0 | +26.2% |
| Median | 10.4 | 9.2 | 0.5 | +44.7% |