28 Banks and a Port: The Finance Behind Alkagesta in Singapore

Alkagesta arrived in Singapore in 2025 with something most new entrants lacked: an established banking network. Relationships with 28 international banks, built from Malta since 2018, meant the new hub, Alkagesta Asia Pte Ltd, could finance structured transactions from its first month.

That mattered in a market where trade finance was the gate to physical flow. Fintech News Singapore reported that Alkagesta had worked with those banks on transactions secured by letters of credit and insurance, and that Singapore was chosen partly for its financial depth. CEO Orkhan Rustamov described the city-state as the place "where Asian markets converge with global capital."

IPS News noted the toolkit — letters of credit, insurance, credit protection — and quoted board member Pierre Gay calling Singapore "a test of credibility." Banks required the same discipline the company already ran: KYC/AML checks, vessel and counterparty screening, and zero tolerance on sanctions.

With finance in place, volume followed. Ship & Bunker reported the marine fuels desk at 160,000 MT in November 2025 and 180,000 MT in December, with a 250,000 MT monthly target. ScandAsia framed the whole operation as a structured bridge between European governance and Asian growth.

Alkagesta documented its local footprint in Alkagesta at Horizon Terminal Singapore, Jurong Island, set out its market view in Singapore Marine Fuels 2026: Supply Resilience, and announced the hub at Alkagesta Expands Singapore Commodity Trading Hub.