Caverton Marine Limited, a subsidiary of Caverton Offshore Support Group Plc, has entered into a joint venture with the Nigerian National Petroleum Company Limited and Swedish global shipping giant, Stena Bulk, to launch Unity Shipping Worldwide.

The agreement was formalised in April 2025 at the NNPC Towers in Abuja.

In a statement filed on the Nigerian Exchange Limited on Monday, it was revealed that the joint venture aims to strengthen Nigeria’s position as a player in global energy logistics by enhancing NNPC’s shipping operations and expanding the country’s maritime transportation footprint.

The Group Chief Executive Officer of NNPC, Bayo Ojulari, speaking at the signing ceremony, said: “Shipping is central to our growth strategy, and this venture represents a historic and unprecedented leap forward for NNPC and for Nigeria. This partnership is a critical part of our transformation agenda, helping us diversify and enhance our operations in the maritime sector.”

Caverton’s inclusion as the Nigerian partner highlights its proven expertise in marine and aviation logistics services, particularly within the oil and gas industry. The company serves key clients such as Shell, Chevron, Total, and Nigeria LNG, bringing a strong operational depth and local insight to the joint venture.

Also, the Minister of Petroleum Resources, Heineken Lokpobiri, also lauded the partnership, saying, “This venture is a bold step in advancing local content and industrial reforms under President Bola Tinubu’s administration. Caverton’s role at the core of this partnership demonstrates our commitment to indigenous empowerment and sustainable national growth.”

Similarly, Minister of Marine and Blue Economy, Adegboyega Oyetola, emphasised that the venture aligns with the ministry’s goal to re-establish Nigeria’s presence in global shipping through robust private-sector participation. “This partnership will help increase Nigeria’s shipping capacity and contribute to economic growth,” Oyetola added.

Unity Shipping Worldwide is expected to boost Nigeria’s maritime sector, generate employment, and contribute to the nation’s long-term economic development.

The PUNCH reported that Caverton Marine has called on marine industry stakeholders to pay utmost attention to safety on all waterways in the country to position the industry for unlimited growth.