NNPC Shipping, Stena Bulk, Caverton Launch Groundbreaking Joint Venture to Drive Nigeria, Africa’s Energy, Maritime Industries

By Joycelyn Ellakeche Adah

NNPC Shipping, Stena Bulk, and Caverton Marine Limited have announced a groundbreaking partnership to revolutionize Nigeria’s maritime transportation sector.

This strategic collaboration, formalized and signed in London last week, aims to establish a robust tanker operation catering to the region’s crude oil, refined products, and LNG shipping requirements, bolstering Nigeria and West Africa’s energy supply chain.

The joint venture will focus on providing high-quality, efficient maritime transport and explore creating a modern fleet of tankers, blending new and existing vessels based on market factors and commercial opportunities.

They will also assess vessel acquisitions and long-term charter arrangements while maintaining competitive costs and ensuring high safety and sustainability standards.

The new fleet will primarily meet NNPC’s logistics needs for crude, clean products, and LNG/LPG, according to Mr. Panos Gliatis, the Managing Director of NNPC Shipping.

He said the partnership is a major step in modernizing Nigeria’s maritime infrastructure as the company will also serve other oil producers and traders, offering a modern fleet, strong financial backing, and maritime expertise to enhance regional energy logistics.

Gliatis noted that combining their expertise with Stena Bulk and Caverton will strengthen Nigeria’s position in global energy logistics.

Erik Hanell, President/CEO of Stena Bulk, was excited about expanding into key growth markets and highlighted Nigeria’s energy sector transformation and Stena Bulks commitment to operational excellence and sustainability in the region.

On his part, Mr. Bode Makanjuola, CEO of Caverton Offshore Support Group, described the venture as a significant milestone in enhancing Nigeria’s maritime capabilities.

He said combining local knowledge with international best practices would benefit not only Nigeria but the entire sub-Saharan Africa.

This joint venture supports Nigeria’s long-term economic growth by improving logistics and contributing to the country’s energy sector.

NNPC Shipping, Stena Bulk, and Caverton Marine’s combined expertise will establish a world-class operation that will positively impact Nigeria and Africa’s energy and maritime industries.