L-R: Eric Johan (General Manager, Stena Bulk USA), Mr. Rotimi Makanjuola (Chief Operating Officer, Caverton Offshore Support Group, COSG), Erik Hannel (CEO, Stena Bulk), Mr. Dapo Segun (Chief Financial Officer, NNPCL), Mr. Olabode Makanjuola (CEO, COSG), Mr. Bayo Ojulari (Group Chief Executive Officer, NNPCL), Mr. Mumuni Dangazau (Executive Vice President, Downstream), Mr. Panos Gliatis (NNPCL E&P Limited – NEPL), and Mr. Huub Stokman (MD, NNPCL Retail Ltd.) participated in the presentation ceremony marking the official launch of NNPC’s new shipping joint venture called Unity Shipping Worldwide. This collaboration involves partnerships among NNPCL, Caverton, and Stena Bulk. The event took place at NNPC Towers in Abuja on Tuesday, April 29th, 2025.
As the ink dries on a pivotal accord, the Nigerian maritime sector teeters on the brink of significant change. The Nigerian National Petroleum Corporation (NNPC), alongside international heavyweight Stena Bulk from Sweden and leading Nigerian company Caverton, have established UNITY Shipping Worldwide (USW). Officially launched in April 2025, this collaboration aims to rejuvenate Nigeria’s standing in global shipping, supporting the nation’s ambition for a robust and lucrative petroleum industry.
As part of its continuous development, NNPC decided in 2018 to centralize its maritime activities within NNPC Shipping Limited (NSL) to enhance efficiency and establish a competitive fleet similar to leading international shippers. By 2025, this strategy materialized through the endorsement and execution of a partnership between NNPC Shipping Limited, Stena Bulk, and Caverton.
This announcement arrives during a period where the worldwide demand for oil transportation has reached unprecedented levels, highlighting how critical shipping is to meet this ongoing global energy requirement. With Nigeria being a key player, West Africa ships around 3.8 million barrels of crude oil daily, emphasizing the area’s importance within the realm of energy distribution. This collaboration marks a pivotal step forward for Nigeria’s maritime industry, which has struggled to establish itself firmly on the world market.
Throughout history, Nigeria’s maritime activities have progressed from basic trading systems in the 1800s to more organized developments following the creation of entities like the Nigerian Ports Authority (NPA) and the Nigerian Maritime Administration and Safety Agency (NIMASA). Nevertheless, earlier efforts to form a national shipping line—such as the defunct Nigerian National Shipping Line (NNSL)—have faced financial difficulties and logistical challenges. Presently, despite being one of the world’s top eight oil exporters, Nigeria lacks a national merchant fleet—an absence that UNITY Shipping Worldwide aims to address.
The combination of Nigerian entrepreneurial spirit and international maritime knowledge is embodied by Caverton, a leading logistics company boasting significant dominance in the local oil and gas industry. Having served prominent entities such as Nigeria LNG, Shell, Chevron, and Total, Caverton is ideally positioned to lead this collaborative effort towards prosperity. In alliance with Stena Bulk, which has made waves globally through innovative shipping solutions and successful partnerships including the Stena Sonangol Suezmax Pool, their collaboration leverages a robust marine legacy.
During the official launch of Unity Shipping Worldwide at the NNPC Tower in Abuja, senior management from NNPC was represented by their Group CEO, Bayo Ojulari. In his short address, he mentioned, “The NNPC is poised for significant change, and our goals are well-defined. Shipping plays an essential role in this transition, and I am eager to embark on this voyage, which promises to be both historical and unprecedented within the sector and for the NNPC itself, supported by various governmental bodies.” According to maritime analysts, this collaboration could help NNPC strengthen and broaden its international footprint.
Commended for reviving the nation’s maritime identity, this partnership supports the government’s objective of boosting local content involvement. Nigerian Petroleum Minister Heineken Lokpobiri hailed the initiative as a significant step towards transforming the energy industry and enhancing Nigeria’s global economic stance. Speaking during a meeting where Unity partners presented their efforts in Abuja, he stated, “The launch of Unity Shipping Worldwide exemplifies President Bola Tinubu’s strategic foresight and has been achieved through his guidance and commitment to industrial reforms. This project embodies the sort of impactful cooperation we envision will reshape our energy landscape and bolster Nigeria’s economic footprint.”
He stated, “To optimize our anticipated profitability and ensure long-term benefits for the country, all segments within the industry need to be strongly committed and work in harmony.”
UNITY serves as an actual instance of the government’s local content aspirations turning into reality. I am delighted to observe a Nigerian firm (Caverton) playing a central role in this strategic collaboration. This underscores our dedication to inclusive growth and guarantees national involvement.”
“Regardless of what measures must be taken by both our government and as stakeholders, everything possible will be executed to guarantee that NNPC secures the most advantageous arrangement in line with Nigeria’s national interests. We shall utilize all available resources to back this collaboration. Therefore, I extend my congratulations to everyone involved, anticipating how these efforts will materialize for the betterment of each one of us,” he declared.
When greeting the UNITY Shipping partners at the Ministry of Marine and Blue Economy, Minister Adegboyega Oyefule expressed his support. He mentioned that this initiative aligns with the government’s goals of promoting local involvement in shipping as well as fostering international cooperation within maritime activities.
As he sees it, the partnership is commendable, especially the thorough exposition of the operational business model.
I’m enthusiastic about today,” he stated. “Since we lost the stagnant Nigerian National Shipping Line, NNSL, a panel has been established by the ministry to explore the potential for reinstating a national flag-carrying shipping company under a Public-Private Partnership model. Personally, I feel that government involvement in certain operations isn’t ideal; instead, entrusting initiatives like these to industry leaders such as Caverton would be more effective.” Governor Oyetola emphasized governmental backing for local endeavors, saying, “This initiative aligns perfectly with the president’s goals and is indeed commendable.
For Olabode Makanjuola, who leads Caverton as its CEO, this initiative marks the culmination of extensive planning efforts. Highlighting an impressive combination of local insight and international standards, Unity Shipping Worldwide aims to bring advantages not just to Nigeria, but across the broader Sub-Saharan Africa area.
This collaborative effort — which has taken nearly ten years to plan — represents a substantial step forward in boosting Nigeria’s maritime strength. Through the integration of local expertise with global standards, we aim to create an exceptional service that will serve not just Nigeria but also the broader Sub-Saharan Africa area. The executive confirmed his organization’s preparedness to achieve the goals set forth by Unity Shipping Worldwide. Makanjuola stated, “It truly has been a labor of passion. It humbles me greatly and fills me with gratitude that much of this success comes during the current leadership tenure, and rest assured, we remain dedicated to advancing shipping capability according to top-tier industry norms for Nigeria.”
In the meantime, Erik Hånell, who serves as both the President and CEO of Stena Bulk, conveyed his enthusiasm about the partnership, anticipating significant advancements towards operational efficiency and environmental responsibility within Nigeria’s dynamic energy industry. “We’re thrilled to join forces with NNPC and Caverton Marine in this pioneering initiative,” he stated. “This alliance resonates well with our strategic approach of broadening our footprint in crucial expanding markets without compromising our commitment to superior operations and ecological stewardship. The evolution currently taking place in Nigeria’s energy landscape is noteworthy, and we feel privileged to play a role in it.” Additionally, he remarked, “Given the potential influence this venture could wield over maritime activities in Nigeria and facilitate transporting Nigerian crude globally, I believe we are setting off on an expedition to accomplish your government’s objectives.”
At the formalization event, Panos Gliatis, the Managing Director of NNPC Shipping, also attended. He stated: “This strategic alliance represents a crucial step forward in NNPC’s dedication to updating Nigeria’s maritime facilities. Through pooling our knowledge with Stena Bulk and Caverton Marine, we aim to establish a solid foundation that will improve our local refining capacities as well as import and export operations, thereby bolstering Nigeria’s role within international energy supply chains.”
This strategic partnership goes beyond mere business; it represents a significant step forward that revitalizes Nigeria’s presence in international maritime affairs. The effectiveness of UNITY Shipping Worldwide hinges on cooperative creativity and strong operational flexibility, which will bring the country nearer to becoming autonomous in shipping capabilities, protecting its role in the worldwide energy sector, and highlighting its economic ambitions.
As Nigeria enthusiastically observes UNITY Shipping Worldwide embarking on this fresh journey, the endeavor serves as an affirmation of collaborative strength and the potential for expanding maritime economic opportunities. Guided by a clear path forward and buoyed by confidence,UNITY Shipping Worldwide aims to reshape Nigerian maritime transport for years ahead. Here’s to the beginning of their expedition!
Provided by Syndigate Media Inc. (
Syndigate.info
).
Leave a Reply