The Singapore division of Malta-based commodity trading firm Alkagesta has achieved monthly marine fuel volumes of between 200,000 and 250,000 metric tonnes in its first operational year. The company's Asian entity, Alkagesta Asia Pte, initiated commercial activities on 1 July 2025.
Alongside marine fuel distribution, the Singapore team also engaged in trading naphtha cargoes into the East and Southeast Asian markets during this period.
Agshin Bakirzade, who oversees commodity trading for Alkagesta across the Asia-Pacific region, and Mithat Çiftçioğlu, who manages the firm's marine fuel distribution, lead the Singapore operation.
Mr. Çiftçioğlu noted that the APAC marine fuels market remains appealing, but contemporary success is increasingly contingent on factors such as supply consistency, operational reliability, and sound financial management, rather than solely pursuing volume.
Alkagesta highlighted that disruptions to trade routes in the Red Sea and Middle East have further reinforced Singapore's significance as a major marine fuel hub. The company also reported an increase in its group trading volumes, growing from approximately 5.2 million metric tonnes in 2023 to over 8.7 million metric tonnes in 2025.
Sources
- Ship & Bunker, “Alkagesta Singapore Nears 250,000 MT/Month Bunker Volumes in First Year”, 2026-06-02 — shipandbunker.com
- Alkagesta — alkagesta.com
