OurHISTORY
The origins of the Galaxy Energy Group date back to 1989 when Galaxy Energy AG was incorporated in the Canton of Zug in Switzerland by one of its present shareholder, Mr. Massimo Filosa the Group’s current Honorary Chairman.
The Group trades mainly via its subsidiary GALTRADE LTD incorporated in BVI since in 1997 and charters its tonnage through NEWTON SHIPPING SERVICES LIMITED, registered in Republic of Liberia. With a turnover of about 7-9 million tons of petroleum products per year and about 200 voyages per year during the last 3 years, the Group is an important player in the petroleum products and shipping markets.
The present holding Company, GALAXY ENERGY GROUP LTD. was incorporated in the British Virgin Islands in April 2000 to spin-off the Oil trading division into a separate entity.
During the mid-nineties the Group has moved to the present headquarters to in the Principality of Monaco. Since then, the core management has remained largely unchanged. The business continues to be managed in Monaco under the service company GEG MANAGEMENT SAM.
Late 2016, the Group has decided to incorporate a new trading arm in the Arab Gulf area; Galtrade Middle East DMCC.
In 2022 to strengthen its presence in the Middle East it has been decided to open a new office in Dubai – GEG MANAGEMENT DMCC acting as a service company.
FINANCE
The Group continues to be well supported by a consortium of leading Banks in Commodity Trade Finance. It is granted extinguish financial support from our pool of experienced bankers, providing a range of facilities enabling effective performance in all market conditions.
Activities / OUR WORK
Over the past two decades, Galaxy has developed a diversified trading business, originally starting business sourcing, supplying and trading crude oil and refined petroleum products.
Market fundamentals can cause the physical commodity sectors in which Galaxy operates to become fragmented and periodically volatile.
As a result, discrepancies arise between the prices at which the commodities can be bought or sold in different geographic locations or for different time periods.
Galaxy’s role is to close these so-called arbitrages and facilitate the re-balancing of these market fundamentals.
Whilst arbitrage opportunities vary between commodities, the primary arbitrage strategies can generally be described as geographic, technical, time and contractual.
We are able to source, transport, blend and store the relevant commodities that helps to correct the price discrepancies.
We enhance our trading activities with strategic assets providing valuable insights into market places where we operate and enabling us to optimize the supply chain
GroupSTRUCTURE
Galaxy operates in a dynamic environment and views risk management as being aware of what could go wrong at any time, deciding whether those risks can be managed or how they would affect our business, and finally taking action to avoid the problem or its consequences.
Holding Companies
GALAXY ENERGY GROUP LTD, Tortola (BVI)
BHC INVESTMENT LTD, Malta
Subsidiaries
RDZ ENERGY LTD, Riga, Latvia
PRAX SA SIA, Riga, Latvia
Shipping and Chartering
NEWTON SHIPPING SERVICES Ltd
Management and Representative Company
GEG MANAGEMENT S.A.M., Monaco, Monaco Principality
GEG MANAGEMENT DMCC – Dubai (UAE)
Trading Company/Group
GALTRADE LTD, Tortola (BVI)
- Fuel Oil
- Crude Oil
- Middle Distillate
GALTRADE MIDDLE EAST DMCC – Dubaï (UAE) Ltd
- Fuel Oil
- Middle Distillate
Subsidiaries
RDZ ENERGY LTD, Riga, Latvia
PRAX SA SIA, Riga, Latvia
Management and Services
GEG MANAGEMENT S.A.M., Monaco, Monaco Principality
GEG MANAGEMENT DMCC – Dubai (UAE)
WhereWE OPERATE
OVERALL FOOTPRINT
Galaxy is geographically diverse operating in over 50 countries. Regular activity across geographies and markets provides deep intelligence and understanding to identify short, medium and long trends and therefore adapt our business model to customer’s needs.
The three major trading regions where we operate are :
- EUROPE MIDDLE EAST AND AFRICA
- ASIA
- AMERICA
OurTEAM
Management
Ugo CHIMENTI
AndreaPIZZORNI
MassimoFILOSA
trading
Edoardo FILOSA
Operations
Pablo GUATTERI
Chartering
Accounting and administration
EnricoMAZZUCA
DanielaD'AMICO
Finance
SharonaLI
VéroniqueTIEN
Risk Management
CaroleROBINO
Contract Administration & Compliance
ValeriaMANCINI
Claim & Demurrage
FrancescaSACCONAGHI
Corporate & Human Resources
BéatriceBERTRAND
OtherDisclosures
There have been unfounded and incorrect allegations about the Galaxy Energy Group in media. Galaxy Energy Group Ltd, its group of companies, directors and employees take reputation management and enforcement of its intellectual property rights very seriously, and are prepared to vigorously defend the same.
Main Customers & Suppliers
