NNPC Partners with Stena Bulk, Caverton Marine to Revolutionize Nigeria’s Maritime Logistics
Lagos, Nigeria – In a move set to reshape Nigeria’s maritime and energy logistics landscape, the Nigerian National Petroleum Corporation (NNPC) Limited has entered a joint venture agreement with global shipping giant Stena Bulk and local maritime powerhouse Caverton Marine Limited. The partnership, spearheaded by NNPC Shipping, will drive the transportation of crude oil, refined petroleum products, and liquefied natural gas (LNG) across Nigeria, West Africa, and global markets.
A Game-Changing Maritime Partnership
The agreement, signed in London last week, marks a significant step toward modernizing Nigeria’s shipping capabilities. The new joint venture will establish a company dedicated to providing top-tier, efficient, and sustainable maritime transport services.
According to NNPC’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, the collaboration will focus on developing a modern tanker fleet—comprising newly acquired and existing vessels—to support the country’s growing energy trade.
“The joint venture partners will explore opportunities for vessel acquisitions and long-term charter arrangements while ensuring competitive operating costs, safety, and environmental sustainability,” Soneye stated.
Enhancing Nigeria’s Energy Supply Chain
The primary goal of this partnership is to strengthen NNPC’s logistics operations for crude oil, refined products, and LNG. However, the newly formed entity will also extend its services to other oil producers and traders in the region, leveraging a modern fleet, strong financial backing, and global maritime expertise.
Managing Director of NNPC Shipping, Panos Gliatis, emphasized the strategic importance of this venture:
“This partnership marks a milestone in NNPC’s commitment to enhancing Nigeria’s maritime infrastructure. By combining forces with Stena Bulk and Caverton Marine, we are creating a robust platform to support domestic refining, import and export operations, and strengthen Nigeria’s role in global energy logistics.”
Global Expertise Meets Local Strength
Stena Bulk, a globally recognized player in shipping and energy logistics, sees the deal as a strategic entry into one of Africa’s fastest-growing markets.
President & CEO of Stena Bulk, Erik Hånell, expressed optimism about the collaboration:
“This aligns perfectly with our strategy of expanding into key growth markets while maintaining high standards of operational excellence and sustainability. Nigeria’s energy sector is undergoing a remarkable transformation, and we’re proud to be part of this journey.”
Similarly, Head of Stena Bulk USA, Johan Jäwert, highlighted the company’s commitment to enhancing local shipping capabilities:
“We look forward to developing shipping activities locally with Caverton Marine, leveraging NNPC’s strong position in the oil market. With our expertise in commercial and technical shipping, we aim to create a world-class shipping company that will provide first-class services to the energy sector.”
Strategic Impact on Nigeria’s Oil and Gas Sector
This partnership comes at a critical time when Nigeria is actively seeking to expand its refining capacity and reduce its reliance on foreign shipping services. By establishing a strong, locally supported shipping fleet, the joint venture is expected to boost efficiency, cut costs, and enhance Nigeria’s competitiveness in global energy logistics.
With an eye on safety, sustainability, and operational excellence, NNPC, Stena Bulk, and Caverton Marine are set to redefine maritime transportation in West Africa, positioning Nigeria as a leading hub for oil and gas shipping.
Lagos, Nigeria – In a move set to reshape Nigeria’s maritime and energy logistics landscape, the Nigerian National Petroleum Corporation (NNPC) Limited has entered a joint venture agreement with global shipping giant Stena Bulk and local maritime powerhouse Caverton Marine Limited. The partnership, spearheaded by NNPC Shipping, will drive the transportation of crude oil, refined petroleum products, and liquefied natural gas (LNG) across Nigeria, West Africa, and global markets.
A Game-Changing Maritime Partnership
The agreement, signed in London last week, marks a significant step toward modernizing Nigeria’s shipping capabilities. The new joint venture will establish a company dedicated to providing top-tier, efficient, and sustainable maritime transport services.
According to NNPC’s Chief Corporate Communications Officer, Mr. Olufemi Soneye, the collaboration will focus on developing a modern tanker fleet—comprising newly acquired and existing vessels—to support the country’s growing energy trade.
“The joint venture partners will explore opportunities for vessel acquisitions and long-term charter arrangements while ensuring competitive operating costs, safety, and environmental sustainability,” Soneye stated.
Enhancing Nigeria’s Energy Supply Chain
The primary goal of this partnership is to strengthen NNPC’s logistics operations for crude oil, refined products, and LNG. However, the newly formed entity will also extend its services to other oil producers and traders in the region, leveraging a modern fleet, strong financial backing, and global maritime expertise.
Managing Director of NNPC Shipping, Panos Gliatis, emphasized the strategic importance of this venture:
“This partnership marks a milestone in NNPC’s commitment to enhancing Nigeria’s maritime infrastructure. By combining forces with Stena Bulk and Caverton Marine, we are creating a robust platform to support domestic refining, import and export operations, and strengthen Nigeria’s role in global energy logistics.”
Global Expertise Meets Local Strength
Stena Bulk, a globally recognized player in shipping and energy logistics, sees the deal as a strategic entry into one of Africa’s fastest-growing markets.
President & CEO of Stena Bulk, Erik Hånell, expressed optimism about the collaboration:
“This aligns perfectly with our strategy of expanding into key growth markets while maintaining high standards of operational excellence and sustainability. Nigeria’s energy sector is undergoing a remarkable transformation, and we’re proud to be part of this journey.”
Similarly, Head of Stena Bulk USA, Johan Jäwert, highlighted the company’s commitment to enhancing local shipping capabilities:
“We look forward to developing shipping activities locally with Caverton Marine, leveraging NNPC’s strong position in the oil market. With our expertise in commercial and technical shipping, we aim to create a world-class shipping company that will provide first-class services to the energy sector.”
Strategic Impact on Nigeria’s Oil and Gas Sector
This partnership comes at a critical time when Nigeria is actively seeking to expand its refining capacity and reduce its reliance on foreign shipping services. By establishing a strong, locally supported shipping fleet, the joint venture is expected to boost efficiency, cut costs, and enhance Nigeria’s competitiveness in global energy logistics.
With an eye on safety, sustainability, and operational excellence, NNPC, Stena Bulk, and Caverton Marine are set to redefine maritime transportation in West Africa, positioning Nigeria as a leading hub for oil and gas shipping.