The Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have announced the signing of a new joint venture aimed at transforming Nigerian maritime transportation.
The agreement, signed in London, will create a new tanker operation serving Nigeria and West Africa’s crude oil, refined product, and LNG regional and global shipping requirements.
According to the partners, the joint venture will provide top-quality, reliable, and efficient maritime transport, with a focus on maintaining competitive operating costs while meeting the highest standards of safety and sustainability.
The new company will primarily serve the logistics needs of NNPC, as well as cater to other oil producers and traders, offering strategic advantages of a modern fleet, strong financial backing, and maritime expertise.
Managing Director of NNPC Shipping, Panos Gliatis, described the partnership as a significant milestone in NNPC’s commitment to modernizing Nigeria’s maritime infrastructure.
President and CEO of Stena Bulk, Erik Hånell, noted that the collaboration aligns with the company’s strategy of expanding its presence in key growth markets while maintaining high standards of operational excellence and sustainability.
CEO of Caverton Offshore Support Group, Bode Makanjuola, said the joint venture marks a significant stride in enhancing Nigeria’s maritime capabilities, combining local knowledge with international best practices.
The joint venture comes at a time when Nigeria is asserting its position as Africa’s largest economy, with the country’s strategic location, growing population, and ambitious infrastructure developments creating new opportunities for shipping companies.
By establishing this world-class tanker operation, the partners are meeting immediate logistical needs while contributing to Nigeria’s long-term economic diversification and growth.
(Editor: Oloyede Oworu)
