The Nigerian National Petroleum Company Shipping (NNPC Shipping), Stena Bulk, and Caverton Marine Limited have joined forces to launch a transformative joint venture that will revolutionize Nigeria’s maritime transportation landscape.
“This strategic partnership marks a significant milestone in NNPC’s commitment to modernizing Nigeria’s maritime infrastructure,” said Managing Director NNPC Shipping, Panos Gliatis. “By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic refining, import, and export capabilities and strengthen Nigeria’s position in global energy logistics.”
The joint venture aims to develop and operate tankers to efficiently transport crude oil across Nigeria and West Africa, reducing reliance on foreign vessels. The partners will create a new company focused on providing top-quality, reliable, and efficient maritime transport.
“We look forward to developing shipping activities locally with Caverton and benefiting from NNPC’s strong position in the oil market,” said Head of Stena Bulk USA, Johan Jäwert. “Combined with our know-how across all aspects of commercial and technical shipping, we will create a world-leading shipping company providing first-class service to the energy market.”
The joint venture is poised to contribute significantly to Nigeria’s long-term economic diversification and growth, aligning with the country’s strategic location, growing population, and ambitious infrastructure developments.
“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 CEO of Caverton Offshore Support Group, Bode Makanjuola.
This groundbreaking partnership is set to transform Nigeria’s maritime industry, enhancing the country’s position as Africa’s largest economy.