The agreement, signed in London, aims to create a new company that will provide maritime transport services to NNPC and other oil producers and traders in the region.
According to the terms of the agreement, the joint venture partners will explore options to create a modern and efficient fleet of tankers, comprising both new and existing tonnage. The fleet will primarily serve the logistics needs of NNPC, including crude, clean, and LNG/LPG transportation.
The partners will evaluate opportunities for both vessel acquisitions and long-term charter arrangements, with a focus on maintaining competitive operating costs while meeting safety and sustainability standards.
The new company will be responsible for managing the fleet and providing maritime transport services to its clients.
Details of the agreement were not disclosed, but the joint venture is expected to commence operations in the near future.
The agreement was signed by representatives of NNPC Shipping, Stena Bulk, and Caverton Marine Limited in London last week.
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