Alkagesta Expands Singapore Bunkering Market Share Ahead of SIBCON 2026
The marine fuel supplier reported 1.65 million metric tonnes in deliveries and $1.01 billion in revenue for the first half of 2026 as leadership convenes in Singapore.
Alkagesta's leadership and regional staff have assembled in Singapore ahead of the SIBCON 2026 industry conference. The gathering includes the firm's founder and chief executive officer, Orkhan Rustamov, alongside local personnel. The event coincides with the company's Singapore branch entering its second year of operations following its initial establishment under Alkagesta Asia Pte in July 2025.
The global maritime and bunkering conference provides a commercial platform for engagement across the Asia-Pacific region. Alkagesta intends to use the industry gathering to interface with counterparts across the marine fuels, shipping, and commodity trading sectors. The company is seeking to reinforce established trading partnerships while exploring additional commercial opportunities across the regional energy market.
The executive assembly follows substantial expansion in the trading firm's regional marine fuel volumes during the first half of 2026. Official company figures indicate deliveries reached 1.65 million metric tonnes over the six-month period, representing an increase of approximately 104 percent compared to the 0.81 million metric tonnes supplied in 2025. Current physical distribution averages roughly 250,000 metric tonnes per month.
These monthly volumes account for an estimated 5 percent share of Singapore's total marine fuel supply market. In parallel with volumetric gains, the company generated 1.01 billion dollars in revenue across the first six months of 2026. This top-line figure reflects growth of approximately 171 percent when measured against the revenue generated throughout the full 2025 calendar year.
The commercial progress has been supported by the ongoing build-out of local supply infrastructure and trading capabilities. Administratively, the Singapore desk also marked the return of office administrator Diyana Scott from leave. Alkagesta stated that its continued investment in local infrastructure and regional personnel will anchor its ongoing operations across Singapore and the wider APAC territory.
Meridian Commodities Briefing
Market & Trade Briefing
A concise daily read on commodity, energy, fuel oil, bunkering and freight developments — written for traders, brokers, owners and operators.