By Abbas Nazil
Nigeria’s maritime sector is set for a significant transformation following a strategic joint venture between NNPC Shipping, Stena Bulk, and Caverton Marine Limited.
The agreement, recently signed in London, aims to bolster the country’s maritime transportation and energy logistics by creating a shipping company dedicated to transporting crude oil, refined petroleum products, and liquefied natural gas (LNG) across Nigeria, West Africa, and international markets.
This collaboration is expected to modernize Nigeria’s tanker fleet, introducing new vessels and optimizing existing ones in response to market conditions and commercial opportunities.
The partners will also explore long-term charter arrangements to ensure cost-effective operations while upholding safety and sustainability standards.
This development marks a major milestone in enhancing Nigeria’s maritime infrastructure and solidifying its position as a regional energy logistics hub.
According to Panos Gliatis, managing director of NNPC Shipping, the partnership will enable Nigeria to strengthen its refining, import, and export capabilities.
Related Posts
By integrating NNPC’s extensive market presence with Stena Bulk’s global experience and Caverton’s local expertise, the venture will create a resilient shipping operation that meets national and international energy transport needs.
The initiative will not only cater to NNPC’s shipping requirements but also serve other oil producers and traders, ensuring competitive maritime services with a modern fleet and strong financial backing.
Stena Bulk, which operates a global fleet of approximately 70 vessels, sees the partnership as an opportunity to expand its presence in key growth markets.
Erik Hånell, president and CEO of Stena Bulk, emphasized the company’s commitment to maintaining high operational and sustainability standards while playing a role in Nigeria’s evolving energy sector.
Similarly, Johan Jäwert, head of Stena Bulk US, noted that the venture would support the development of local shipping activities, leveraging NNPC’s market strength and Caverton’s regional expertise.
For Caverton Marine, a company specializing in offshore support and logistics, this partnership represents years of strategic planning aimed at enhancing Nigeria’s maritime capabilities.
Group CEO Bode Makanjuola highlighted the importance of combining local knowledge with international best practices to create a world-class shipping operation that benefits not only Nigeria but the entire Sub-Saharan African region.
