The Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk and Caverton Marine have formed a joint venture (JV) to launch a new tanker operation aimed at addressing increasing shipping demands for crude oil, refined products and LNG in Nigeria and West Africa.
The JV will establish a new company dedicated to delivering high-quality, reliable and efficient maritime transport. The partners will explore opportunities to develop a modern and competitive fleet of tankers, combining new vessels and existing tonnage based on market conditions and commercial prospects in the region. A key focus will be evaluating vessel acquisitions and long-term charter agreements, with an emphasis on minimizing operating costs while ensuring safety and sustainability.
The new fleet will primarily serve NNPC’s logistics needs for crude oil, refined products and LNG, with plans to extend services to other oil producers and traders. The partnership comes as Nigeria’s energy sector undergoes significant transformation, positioning the country to play a larger role in global energy logistics.
