Alkagesta and Navex Launch Alkanavex Joint Venture to Enter Steel Trading

Alkagesta, the Malta-based energy and commodities trading house, has established a new joint venture with French steel trading firm Navex SAS, marking its formal entry into the global metals sector. The new Malta-domiciled entity, named Alkanavex, will focus initially on steel trading across key international industrial and construction supply corridors.

Under the terms of the agreement, which concludes two years of commercial alignment and operational planning, Alkagesta will hold a majority stake in the joint venture. The two trading companies are now finalizing the legal formalization and structural integration of the enterprise.

Founded in 2018, Alkagesta has built an extensive commodity trading footprint centered on petroleum products, biofuels, and fertilizers, facilitating more than seven million metric tons of commodity flows annually across 42 countries. The firm maintains access to over 700,000 cubic meters of storage capacity across Europe and Asia alongside an international presence spanning 17 offices.

Navex brings decades of specialized industrial experience to the joint venture, led by its chief executive Jean-Pierre Artigala, who has held leadership roles across major European and global steel groups including Usinor/Sacilor, Fercometal, and Descours & Cabaud. The French trading house relies on sourcing channels anchored primarily in China and directs regular cargo deliveries to established buyers throughout West and East Africa.

Alkagesta chief executive Orkhan Rustamov noted that the expansion into metals represents a logical progression for the trading group under disciplined risk controls, while board member Pierre Gay underscored the shared vision of building a globally competitive, well-governed steel platform. Artigala emphasized that the structure provides Navex with access to Alkagesta's balance sheet, international network, and compliance systems while deepening trade presence into Africa.

For dry bulk shipping operators, the creation of Alkanavex reinforces long-haul seaborne trade lanes connecting Chinese steel manufacturing hubs to fast-growing import centers in Sub-Saharan Africa. These routes heavily utilize geared bulkers, particularly Handysize and Supramax tonnage, providing steady employment for general cargo and breakbulk-capable vessels navigating between Asian load ports and developing African discharge terminals.

The expansion of dedicated steel trading flows between East Asia and the African continent also carries clear implications for marine fuels procurement. Sustained voyage distances along these corridors underpin continuous demand for bunker supplies across key refueling locations in Southeast Asia, the Indian Ocean rim, and African coastal hubs as trade volumes scale.