The Nigerian Chamber of Shipping (NCS) and Tanzanian Shipping Company (TASHICO) are exploring a joint venture to boost ship acquisition, shipyard development, marine tourism and maritime law across Eastern Africa, reported Lagos Guardian.

Tanzania's Deputy Attorney General, Samwel Maneno, led a delegation to meet NCS leaders in Lagos, highlighting opportunities for collaboration with TASHICO. He expressed interest in replicating Nigeria's Unity Shipping Worldwide model, a joint venture involving NNPC, Caverton Offshore Support Group and Stena Bulk.

TASHICO managing director Eric Hamissi said the firm currently owns 18 ships but requires additional vessels to expand operations in the region. He cited Tanzania's population of over 68 million and proximity to DR Congo's 100 million residents as key advantages for regional shipping.

NCS Vice President Ify Akerele said both organisations would convene a stakeholders' forum to promote knowledge sharing and support Tanzania's goal of expanding its national fleet and inland waterways.

While partnership terms remain under development, both parties voiced optimism that the alliance would unlock opportunities in Tanzania's blue economy and offer investment prospects for Nigerian operators.

NCS board member Mina Oforiokuma said Nigeria's oil sector deregulation and the Petroleum Industry Act have created new shipping opportunities. He also outlined the vessel acquisitions under the NNPC-Caverton-Stena Bulk venture.

Mr Oforiokuma praised Tanzania's transformation under President Samia Suluhu Hassan and urged the delegation to explore joint ventures in gas exploration.