The Nigerian National Petroleum Company (NNPC) Shipping has teamed up with global maritime companies Stena Bulk and Caverton Marine Ltd. to establish a new joint venture aimed at improving Nigeria’s maritime transportation sector.
According to a statement by NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, the new company will focus on providing top-quality, reliable, and efficient maritime transport services.
The agreement, signed in London last week, aims to develop a tanker operation that will serve Nigeria and West Africa’s crude oil, refined products, and Liquefied Natural Gas (LNG) shipping needs on both regional and global scales.
The partners will work towards building a modern and efficient fleet of tankers by acquiring new vessels and securing long-term charter arrangements, depending on market conditions. Their goal is to maintain competitive operating costs while upholding the highest safety and sustainability standards.
“The fleet will primarily handle logistics for NNPC, including crude oil, clean petroleum products, and LNG/LPG transport,” the statement said.
The new company will also cater to other oil producers and traders, offering a strategic advantage through a modern fleet, strong financial backing, and extensive maritime experience.
NNPC Shipping Managing Director, Panos Gliatis, described the joint venture as a major step toward modernizing Nigeria’s maritime infrastructure. He noted that combining expertise from NNPC, Stena Bulk, and Caverton Marine would enhance domestic refining, import, and export operations, while strengthening Nigeria’s position in global energy logistics.
Stena Bulk CEO, Erik Hånell, emphasized that this collaboration aligns with the company’s strategy of expanding in key growth markets while maintaining high standards of operational excellence and sustainability.
Caverton Offshore Support Group CEO, Bode Makanjuola, highlighted the joint venture’s significance in advancing Nigeria’s maritime capabilities. He stressed that merging local expertise with international best practices would create a world-class operation beneficial to Nigeria and the broader sub-Saharan African region.
With Nigeria’s strategic location, growing population, and ongoing infrastructure expansion, the country presents vast opportunities for shipping companies. By launching this new venture, the partners aim to address immediate logistical needs while contributing to Nigeria’s long-term economic diversification and growth.
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