Mkpoikana Udoma
Port Harcourt — In a groundbreaking move to strengthen Nigeria’s role in global energy logistics, the Nigerian National Petroleum Company, NNPC Shipping, Stena Bulk, and Caverton Marine Limited have signed a joint venture agreement to establish a world-class tanker operation.
The partnership, which was formalized in London recently, aims to position Nigeria as a key player in international crude oil, refined products, and LNG transportation.
The new company, formed through this alliance, will not only serve NNPC’s logistics needs but also offer shipping solutions to other oil producers and traders across Africa and beyond.
With a fleet comprising both newly acquired and existing vessels, the venture seeks to provide top-tier maritime transport services, ensuring efficiency, safety, and sustainability.
Speaking, the Managing Director of NNPC Shipping, Panos Gliatis, emphasized the transformative potential of the partnership.
Gliatis said, “This strategic partnership marks a significant 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 that will enhance our domestic refining, import, and export capabilities while strengthening Nigeria’s position in global energy logistics.”
Also, the President and CEO of Stena Bulk, Erik Hånell, echoed this sentiment, highlighting the collaboration’s alignment with international shipping standards.
“This venture allows 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’re proud to be part of this journey.”
With operations set to extend beyond Nigeria to the broader West African region, the joint venture is expected to reshape the shipping landscape by reducing reliance on foreign-controlled tankers.
Head of Stena Bulk USA, Johan Jäwert, noted:”We look forward to developing shipping activities locally with Caverton and benefiting from NNPC’s strong position in the oil market. 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.”
For his part, Bode Makanjuola, CEO of Caverton Offshore Support Group, emphasized the long-term impact on Africa’s maritime sector.
“This joint venture, the result of many years of planning, marks a significant stride in enhancing Nigeria’s maritime capabilities. 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.”
The partnership, according to NNPC Ltd comes at a critical time as Nigeria continues to assert itself as Africa’s largest economy and a leading oil producer.
Establishing a high-caliber, locally driven shipping operation, NNPC, Stena Bulk, and Caverton Marine are not only addressing immediate logistical needs but also shaping the future of maritime transport across the continent.
