NNPC Shipping, a subsidiary of the Nigerian National Petroleum Company Limited (NNPCL), has entered into a strategic partnership with Stena Bulk and Caverton Marine Limited to enhance maritime transportation efficiency across West Africa through the establishment of a new tanker fleet.
The agreement, signed last week in London, aims to launch a joint tanker operation focused on transporting crude oil, refined petroleum products, and liquefied natural gas (LNG) within the region. The initiative is expected to bolster Nigeria’s energy supply chain and improve logistics capacity across West Africa.
According to the parties, the joint venture will provide high-quality and efficient maritime transport services. The operation will involve a combination of new and existing vessels, with decisions guided by market trends and commercial viability. The partners also plan to explore vessel acquisitions and long-term charter arrangements, while upholding high standards of safety, sustainability, and cost efficiency.
Managing Director of NNPC Shipping, Panos Gliatis, stated that the new fleet will primarily support NNPCL’s logistics needs for crude oil, clean products, and LNG/LPG. He described the venture as a significant step in modernizing Nigeria’s maritime infrastructure and strengthening the country’s role in global energy logistics.
“This partnership brings together NNPC Shipping’s expertise with Stena Bulk’s global experience and Caverton’s local knowledge, creating a strong platform to serve oil producers and traders across the region,” Gliatis said.
President and CEO of Stena Bulk, Erik Hanell, expressed enthusiasm over the company’s expansion into a key growth market, noting the alignment with Nigeria’s energy sector transformation and Stena Bulk’s commitment to operational excellence and sustainability.
Also speaking, CEO of Caverton Offshore Support Group, Bode Makanjuola, described the collaboration as a milestone in boosting Nigeria’s maritime capabilities. He emphasized that the blend of local insight and international best practices would benefit Nigeria and the wider sub-Saharan Africa region.
The joint venture is expected to support Nigeria’s long-term economic growth by enhancing energy logistics and strengthening the country’s maritime operations.
