In an effort to improve Nigeria’s energy logistics and maritime transportation, the Nigerian National Petroleum Company (NNPC) Shipping has partnered with Stena Bulk and Caverton Marine Limited to launch a new tanker operation.
The deal, which was finalized last week in London, will allow the partners to establish a maritime business that specializes in moving liquefied natural gas (LNG), refined petroleum products, and crude oil throughout Nigeria, West Africa, and international markets.
Depending on market conditions and business opportunities, the new corporation would prioritize modernizing Nigeria’s tanker fleet by optimizing current tankers and purchasing new ones.
In order to guarantee cost-effective operations while upholding strict safety and sustainability requirements, the venture will also assess long-term charter agreements.
About The Author
