NNPC Shipping, Stena Bulk, and Caverton Marine Launch Joint Venture to Strengthen Nigeria’s Maritime Sector
In a landmark move set to transform Nigeria’s energy and maritime industries, NNPC Shipping, Stena Bulk, and Caverton Marine Limited have announced the formation of a strategic joint venture. The agreement, signed in London last week, will establish a new tanker operation to enhance crude oil, refined product, and LNG transportation across Nigeria, West Africa, and global markets.
The newly formed company will focus on delivering high-quality, efficient, and reliable maritime transport services. The venture will also explore options for developing a modern fleet of tankers, leveraging both newly built and existing vessels to align with market demands and commercial opportunities.
With an emphasis on cost efficiency, safety, and sustainability, the partnership will evaluate vessel acquisitions and long-term charter arrangements. The fleet will primarily support NNPC’s logistics operations while also catering to other oil producers and traders, strengthening Nigeria’s footprint in global energy shipping.
A Milestone for Nigeria’s Energy Logistics
Commenting on the partnership, Managing Director of NNPC Shipping, Panos Gliatis, said:
“This strategic collaboration is a major step toward modernizing Nigeria’s maritime infrastructure. By leveraging the strengths of NNPC, Stena Bulk, and Caverton Marine, we are enhancing domestic refining, imports, and exports while reinforcing Nigeria’s role in global energy logistics.”
President & CEO of Stena Bulk, Erik Hånell, highlighted the company’s commitment to expanding into key markets:
“This venture aligns with our goal of maintaining operational excellence while supporting Nigeria’s evolving energy landscape. We are proud to contribute to this transformation.”
Similarly, Head of Stena Bulk USA, Johan Jäwert, emphasized the venture’s potential:
“By combining our shipping expertise with NNPC’s strong market position and Caverton’s local knowledge, we are building a world-class shipping company poised for long-term success.”
CEO of Caverton Offshore Support Group, Bode Makanjuola, described the partnership as a long-planned effort to strengthen Nigeria’s maritime industry:
“This collaboration blends local expertise with global best practices, creating a maritime powerhouse that will benefit Nigeria and the entire Sub-Saharan Africa region.”
Strengthening Nigeria’s Economic Growth
The launch of this joint venture comes as Nigeria continues to cement its status as Africa’s largest economy. The country’s strategic location, expanding population, and infrastructure development are creating new opportunities for maritime investments.
With this world-class tanker operation, NNPC Shipping, Stena Bulk, and Caverton Marine are not only addressing immediate logistical needs but also contributing to Nigeria’s long-term economic diversification and global competitiveness.
About the Partners:
- NNPC Shipping leads shipping logistics operations for Nigeria’s oil and gas distribution.
- Stena Bulk is one of the world’s largest tanker shipping companies, with a fleet of about 70 vessels and offices in seven countries.
- Caverton Marine Limited provides offshore marine and aviation logistics services across Nigeria and Sub-Saharan Africa.
This partnership marks a significant milestone in Nigeria’s maritime history, promising greater efficiency, enhanced energy transportation, and economic progress for the region.
