NNPC Shipping Signs Deal with Stena Bulk and Caverton Marine; Reasons Revealed.

Keep up with the latest news and be part of our weekly giveaways and airtime sharing; follow our WhatsApp channel for more updates. Click to Follow us

NNPC Limited has announced that its subsidiary, NNPC Shipping, has signed a joint venture agreement with Stena Bulk and Caverton Marine Limited for the shipping of various petroleum products across the industry.

According to the company’s Chief Corporate Communications, Mr. Olufemi Soneye, the deal will create a new tanker operation serving Nigeria and West Africa’s crude oil, refined product, and LNG regional and global shipping requirements.

For further information, read more details here

Soneye stated, “The joint venture partners will create a new company whose objective is to provide top-quality, reliable, and efficient maritime transport. The partners will also explore options to create a modern and efficient fleet of tankers, comprising both new and existing tonnage depending on market factors and commercial opportunities in the region.”

He added, “The partners will evaluate opportunities for both vessel acquisitions and long-term charter arrangements, with a focus on maintaining competitive operating costs while meeting the highest standards of safety and sustainability. This fleet will primarily serve the logistics needs of NNPC (crude, clean, and LNG/LPG).”

NNPC noted that the new company will cater to other oil producers and traders, offering strategic advantage of a modern fleet, strong financial backing, and maritime pedigree and heritage.

For further information, read more details here

Managing Director of NNPC Shipping, Panos Gliatis, said, “This strategic partnership marks a significant milestone in NNPC’s commitment to modernising Nigeria’s maritime infrastructure. By combining our expertise with Stena Bulk and Caverton Marine, we are creating a robust platform that will enhance our domestic refining, import, and export capabilities and strengthen Nigeria’s position in global energy logistics.”

President & CEO of Stena Bulk, Erik Hånell, stated, “This collaboration aligns perfectly with our pragmatic strategy of expanding our presence in key growth markets while maintaining our high standards of operational excellence and sustainability. Nigeria’s energy sector is undergoing remarkable transformation, and we’re proud to be part of this journey.”

Head of Stena Bulk USA, Johan Jäwert, added, “We look forward to developing shipping activities locally with Caverton and benefiting from NNPC’s strong position in the oil market. Combined with our know-how across all aspects of commercial and technical shipping, we will create a world-leading shipping company providing first-class service to the energy market.”

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.