A new joint venture was launched between the Nigerian National Petroleum Corporation (NNPC) Shipping, the tanker shipping company Stena Bulk, and the offshore support company Caverton Marine Limited.
The three partners claim the new venture will transform Nigerian maritime transportation.
The deal, signed in London last week, will create a new tanker operation serving Nigeria and West Africa’s regional and global crude oil, refined product and LNG shipping requirements.
The joint venture partners said in their announcement that they will explore options to create a fleet of tankers, comprising both new and existing tonnage depending on market factors and commercial opportunities in the region.
As disclosed, the companies “will evaluate opportunities for both vessel acquisitions and long-term charter arrangements.”
The fleet will primarily serve the logistics needs of NNPC, including crude, clean and LNG/LPG transportation, whilst the new company will cater to other oil producers and traders.
Panos Gliatis, managing director at NNPC Shipping, said this strategic partnership marks a significant milestone in NNPC’s commitment to modernising Nigeria’s maritime infrastructure.
“By combining our expertise with Stena Bulk and Caverton Marine, we’re creating a robust platform that will enhance our domestic refining, import and export capabilities and strengthen Nigeria’s position in global energy logistics.”
Erik Hånell, president and CEO at Stena Bulk, added that Nigeria’s energy sector is undergoing remarkable transformation.
“By combining local knowledge with international best practices, we are establishing a world-class operation that will benefit not only Nigeria but the entire Sub-Saharan Africa region,” said Bode Makanjuola, CEO, Caverton Offshore Support Group.
This joint venture comes at a time when Nigeria is asserting its position as Africa’s largest economy.
The country’s strategic location, growing population, and ambitious infrastructure developments are creating new opportunities for shipping companies.
