Alkagesta has completed its first full year of Singapore operations under Alkagesta Asia Pte, hitting monthly marine fuel volumes of up to 250,000 metric tonnes. Backed by strategic storage at Horizon Terminal and a booming East-West naphtha arbitrage book, the Group’s global revenue has surged to approximately $4.7 billion.
Singapore | June 2, 2026 – Alkagesta, the Malta-headquartered global energy and commodity trading powerhouse, has successfully concluded its first full year of operations in Singapore, signaling a massive corporate triumph in Asia-Pacific. Since launching Alkagesta Asia Pte on July 1, 2025, the firm has rapidly scaled its presence, transforming the city-state into a core strategic anchor for its global network.
The expansion comes during a period of explosive growth for the wider Alkagesta Group. Between 2023 and 2025, the company’s global trading volumes skyrocketed from 5.2 million to over 8.7 million metric tonnes, while annual revenues surged from $3.1 billion to approximately $4.7 billion.
Dream Team Architecture: Heavyweight Hires Drive Results
Alkagesta’s aggressive market capture in Singapore is spearheaded by a trio of senior industry executives brought on to weaponize the Group’s regional footprint:
- Agshin Bakirzade (Commodity Trading Lead): The former Vice President of Investment Banking at HSBC UK oversees APAC commodity trading, focusing heavily on cargo placements into East and Southeast Asian markets.
- Mithat Çiftçioğlu (Marine Distribution Lead): The former CEO of Kairos Oil Trading Pte Ltd manages Alkagesta’s marine distribution, leveraging deep bunker market expertise.
- Ayman Youssef (Naphtha Book Lead): A 20-year veteran with a pedigree spanning Morgan Stanley, Vilma Oil, Petroineos, and BB Energy, Youssef commands the fast-growing light ends book.
In just twelve months, this leadership team has driven regional marine fuel distribution volumes to a staggering 200,000 to 250,000 metric tonnes per month.
Singapore as a Strategic Shield Against Geopolitical Chaos
As Red Sea shipping disruptions and Middle Eastern volatility shake up traditional bunkering hubs like Fujairah, Alkagesta has intentionally leveraged Singapore as a haven of operational continuity for global shipowners.
Backed by secured storage positions at the premier Horizon Terminal, the company has successfully paired reliable sourcing with local infrastructure to guarantee supply security.
Exploiting the East-West Arbitrage
Beyond bunkering, Alkagesta has weaponized its existing European trading infrastructure to feed Asia’s insatiable appetite for light and heavy energy products. The team has moved aggressively on naphtha arbitrage flows opening up between the West and East of Suez.
Alkagesta Group: The Growth Trajectory (2023–2025)
| Metric | 2023 | 2025 (Current) | Growth Rate |
| Global Trading Volume | 5.2 Million MT | 8.7+ Million MT | +67.3% |
| Global Annual Revenue | $3.1 Billion | $4.7 Billion | +51.6% |
| Monthly Singapore Bunker Vol. | — | 200k – 250k MT | New Market Entry |
From the Leadership
“Our presence here enables direct connectivity to the fast-growing commodity demand centers in Asia,” said Agshin Bakirzade. “Market volatility across key product segments has created new trading opportunities, and Alkagesta has been well-positioned to capture them, supported by a solid balance sheet and the continued confidence of our banking partners.”
“Success today is increasingly driven by supply security, operational reliability, and financial discipline rather than simply chasing volume,“ emphasized Mithat Çiftçioğlu. “This is why Singapore remains strategically unmatched, it offers reliable infrastructure, deep product availability, storage access, and the ability to provide consistent service even during periods of disruption.“
With a blockbuster first year locked in, Alkagesta Asia enters the remainder of 2026 with an incredibly strong balance sheet, deep banking relationships, and an integrated supply chain that perfectly bridges European infrastructure with Asian demand.
About Alkagesta
Established in Malta in 2018, Alkagesta is a premier multinational energy and commodity trading house specializing in petroleum and steel products, fertilizers, biofuels, and jet fuels. The company operates as a global enterprise with 165 professionals across 17 offices and representations worldwide, including its strategic Asia-Pacific hub, Alkagesta Asia Pte in Singapore.
Alkagesta maintains strong partnerships with 28 international banks and conducts trading activities across 42 countries, facilitating over 8.7 million metric tons of commodity flows annually. Its extensive, resilient logistics network includes access to more than 700,000+ cubic meters of storage capacity across Europe and Asia, allowing the company to deliver asset-backed trading solutions and unparalleled supply security to clients globally.
Source: Alkagesta