In a major boost for Nigeria’s maritime and energy sectors, NNPC Limited has announced a strategic joint venture between its subsidiary, NNPC Shipping, and global shipping giant Stena Bulk alongside Caverton Marine Limited. The partnership aims to revolutionize petroleum product transportation across Nigeria, West Africa, and global markets.
The deal, signed last week in London, will establish a modern tanker operation catering to crude oil, refined petroleum, and LNG/LPG shipping needs. According to NNPC’s Chief Corporate Communications Officer, Olufemi Soneye, the new company will focus on efficiency, reliability, and sustainability in maritime logistics.
“This partnership will drive the transformation of Nigeria’s maritime industry by providing top-quality and cost-effective shipping solutions. The fleet will consist of both new and existing vessels, with a focus on competitive operating costs while maintaining high safety and sustainability standards,” Soneye said.
NNPC Shipping Managing Director, Panos Gliatis, highlighted the significance of the collaboration, stating:
“This is a major milestone in modernizing Nigeria’s maritime infrastructure. Partnering with Stena Bulk and Caverton Marine will enhance our refining, import, and export capabilities, strengthening Nigeria’s global energy logistics position.”
Echoing similar sentiments, Stena Bulk President & CEO, Erik Hånell, emphasized the importance of the venture:
“Nigeria’s energy sector is undergoing remarkable transformation, and we’re proud to be part of this journey. This partnership aligns with our goal of expanding into key growth markets while maintaining operational excellence and sustainability.”
Johan Jäwert, Head of Stena Bulk USA, added:
“With Caverton’s local expertise and NNPC’s strong presence in the oil market, combined with our extensive knowledge in shipping operations, we are set to create a world-class shipping company delivering first-rate services to the energy industry.”
The new venture will not only meet NNPC’s logistics demands but also provide services to other oil producers and traders, leveraging a cutting-edge fleet and strong financial backing to redefine regional and global energy transportation.
