Nigerian National Petroleum Corporation (NNPC) Shipping, in collaboration with Swedish firm Stena Bulk and Nigerian company Caverton Marine, has estab
Nigerian National Petroleum Corporation (NNPC) Shipping, in collaboration with Swedish firm Stena Bulk and Nigerian company Caverton Marine, has established a joint venture to enhance Nigeria’s maritime transportation. This initiative aims to develop a tanker operation that will facilitate the movement of crude oil, refined products, and LNG across Nigeria, West Africa, and global markets.
Opportunities
The partnership is focused on creating a reliable and efficient shipping service by deploying a fleet of modern vessels, which may include both newly acquired and existing ships. Their strategy involves evaluating opportunities for vessel acquisitions and long-term charter arrangements, ensuring cost-effective operations while adhering to the highest standards of safety and sustainability. This new fleet will primarily support NNPC’s logistics needs, including domestic refining, imports, and exports. The collaboration is expected to strengthen Nigeria’s position in global energy transportation.
According to Panos Gliatis, Managing Director of NNPC Shipping, this venture signifies a step toward upgrading Nigeria’s maritime infrastructure. Erik Hånell, CEO of Stena Bulk, highlighted the alignment of this partnership with their strategic expansion into key markets.
Meanwhile, Caverton Offshore Support Group’s CEO, Bode Makanjuola, emphasized the integration of local expertise with global best practices to establish a world-class maritime operation. Notably, in 2024, NNPC initiated LNG shipments to Japan and China, delivering cargoes on a delivered ex-ship (DES) basis, further expanding Nigeria’s presence in international energy trade.