Port Harcourt – In a strategic move to enhance Nigeria’s footprint in global energy logistics, the Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have entered into a joint venture to establish a world-class tanker operation.
Thank you for reading this post, don't forget to subscribe!The partnership, recently formalized in London, aims to position Nigeria as a key player in the transportation of crude oil, refined products, and liquefied natural gas (LNG) on the international stage.
This new venture will not only meet NNPC’s logistics needs but also offer shipping solutions to oil producers and traders across Africa and beyond. With a fleet of newly acquired and existing vessels, the operation is set to deliver efficient, safe, and sustainable maritime transport services.
Strategic Vision for Nigeria’s Maritime Growth
Panos Gliatis, Managing Director of NNPC Shipping, highlighted the transformative impact of the partnership, stating:
“This strategic partnership is a major milestone in NNPC’s commitment to modernizing Nigeria’s maritime infrastructure. By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform to enhance domestic refining, import, and export capabilities while strengthening Nigeria’s position in global energy logistics.”
Stena Bulk’s President and CEO, Erik Hånell, echoed similar sentiments, emphasizing the collaboration’s adherence to international shipping standards:
“This venture enables us to expand into key growth markets while maintaining our high standards of operational excellence and sustainability. Nigeria’s energy sector is undergoing remarkable transformation, and we are proud to be part of this journey.”
With plans to extend operations beyond Nigeria into the broader West African region, the venture is expected to reduce dependence on foreign-controlled tankers, reshaping the shipping landscape.
A Game-Changer for Africa’s Maritime Sector
Johan Jäwert, Head of Stena Bulk USA, underscored the significance of localizing shipping activities:
“We look forward to developing shipping activities locally with Caverton and leveraging NNPC’s strong position in the oil market. With our expertise in commercial and technical shipping, we will create a world-leading shipping company providing first-class service to the energy market.”
Bode Makanjuola, CEO of Caverton Offshore Support Group, emphasized the long-term impact on Africa’s maritime sector:
“This joint venture, the result of years of planning, represents a significant step in enhancing Nigeria’s maritime capabilities. By integrating local knowledge with international best practices, we are building a world-class operation that will benefit Nigeria and the entire Sub-Saharan Africa region.”
NNPC Ltd. noted that the partnership comes at a pivotal time as Nigeria continues to assert itself as Africa’s largest economy and leading oil producer. By establishing a top-tier, locally driven shipping operation, NNPC, Stena Bulk, and Caverton Marine are not just addressing immediate logistical needs but are also shaping the future of maritime transport across the continent.
