NNPC Shipping, a subsidiary of Nigerian National Petroleum Company Limited (NNPCL), has partnered Stena Bulk, and Caverton Marine Limited to improve the operational efficiency of the nation’s maritime transportation sector by establishing a new tanker fleet to facilitate crude oil movement and other maritime logistics operations across the West African countries.
To achieve this goal, the partners had last week in London signed an agreement with the aim of establishing a tanker operation to serve the region’s crude oil, refined products, and LNG shipping , thereby bolstering Nigeria and West Africa’s energy supply chain.
According to the parties, the joint venture will focus on providing high-quality, efficient maritime transport and creating a modern fleet of tankers, blending new and existing vessels based on market factors and commercial opportunities.
In addition, the partners will also assess vessel acquisitions and long-term charter arrangements while maintaining competitive costs and ensuring high safety and sustainability standards.
Speaking on the new collaborative venture, Managing Director of NNPC Shipping, Panos Gliatis, disclosed that the new fleet will primarily meet NNPC’s logistics needs for crude, clean products, and LNG/LPG.
He explained that the partnership represented 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 maintained that combining NNPC Shipping’s expertise with Stena Bulk and Caverton would strengthen Nigeria’s position in global energy logistics.
In his remarks, President/CEO of Stena Bulk, Erik Hanell, expressed his excitement 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.
Also, CEO of Caverton Offshore Support Group, Bode Makanjuola, described the venture as a significant milestone in enhancing Nigeria’s maritime capabilities, pointing out that combining local knowledge with international best practices will benefit not only Nigeria but the entire sub-Saharan Africa.
This joint venture will aid Nigeria’s long-term economic growth by improving logistics and contributing to the country’s energy sector.
