Cargow: Trasformative newbuild program

Cargow: Trasformative newbuild program

Dutch MPP owner Cargow is being transformed by an ongoing newbuild program.

Cargow operates a liner service, with multipurpose vessels, combining industrial services into its liner system.

Cargow serves the aluminium industry, the base cargo being aluminium products, aluminium anodes as well as other industrial needs for production.

Along with containerised third-party business as well as project cargoes Cargow operates four vessels, each trading in a 28-day round voyage from Mosjoen on the west coast of Norway to Rotterdam, and up to the east coast of Iceland and back via Rotterdam, in what it calls its V-shape service.  All vessels are in Rotterdam every 14 days, and the fleet can call at additional ports on both legs, in Hull, UK and the Faroe Islands on the Icelandic leg and various ports on the Norwegian leg.  In addition, Cargow operates a weekly service between Rotterdam and Farsund / Kristiansand on the south coast of Norway.

Cargow operates in different segments of the market, as industrial carrier, as a feeder service, short sea operator and specialised project carrier.

Its first newbuilding in a series of four, the Frigg W, is already in service.  Cargow took delivery of a second vessel, Freyja W, from a shipyard in China in January, the vessel is currently under way to Europe and will enter service by the second half of March, replacing one of its time-chartered vessels.  The last two newbuilds will be delivered in the second quarter this year.

“Bringing in the newbuildings into the current market, Cargow is increasing its cargo capacity. We have more energy efficient vessels and are more economical.  We have the ability to increase the speed in our service both with the ability of faster sailing as well as more efficient cargo handling,” says the company’s CEO, Stefan H. Stefansson.

Utilisation of the increased capacity is the company’s immediate growth target.

“The general outlook is clearly improving, with improvement in economic outlook and economic activity and with rising oil prices our area is benefiting and likely to grow further,” an optimistic Stefansson tells Maritime CEO.

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