Success Success stories stories
A further announcement came in December following reform in the Mexican energy sector that opened up oil and gas production and distribution activities to foreign investment. Here, the company partnered with Harren & Partner and established a depot in Ciudad del Carmen along the country’s eastern coast. More recently, Cargostore has established a presence in East Africa, supplying a range of container types to both onshore and offshore projects in Mozambique, including the country’s flagship LNG development, since January 2021. Albeit a bold strategy to pursue such extensive investments during a period economic downturn, the company’s asset upgrade and expansion efforts are already beginning to pay dividends.
easy transition. The company has faced numerous challenges along the way, the blockage of the Suez Canal in February 2021 having been the latest in this saga, exacerbating logistical issues. Yet despite unintended and unavoidable setbacks, the firm has emerged stronger than ever. Having built an already firm position in renewables, with an unrivalled DNV Reefer fleet globally, and increasingly diversified revenue portfolio both in terms of product and geography, it has not only survived the pandemic but is set to thrive in the future.
About Cargostore Cargostore Worldwide is one of the world’s leading suppliers of ISO shipping containers and DNV 2.7-1 certified CCU’s for on and offshore projects. With offices in London, Abu Dhabi, Holland and depots across the globe they provide a seamless and fast service with the flexibility to meet any client requirement.
supply companies. All equipment is designed, built and certified to the DNV 2.7-1 standard. Cargostore has invested in a wide range of regular and specialist products which are available via their location network in the US Gulf, the North Sea, the Arabian Gulf, Middle East, East Africa and Taiwan. Its ISO division supplies ISO certified storage and shipping containers for hire or sale including bespoke container conversions and specialised equipment. We support clients in mining, stability and aid, Government, international relief agencies, catering, and logistics.
Indeed, it has been by no means an
Cargostore’s Offshore Division provides a complete range of CCU’s to service the oil, gas and offshore renewables industries, project movers and offshore
Cargostore has offices globally with staff that collectively speak over 12 languages; enabling them to provide the very best in customer service for our clients worldwide. With constant availability, faster delivery, and local representatives, we make buying, renting and modifying ISO and DNV containers a quick and simple process.
Story type
Key findings
Cargostore at a glance:
#collaboration (main category)
For industry
#export, #resilience
• When dealing with customers, phone calls are preferable to emails.
Key products and services: Supply DNV 2.7-1 cargo carrying units to the offshore energy sector
Significantly, Cargostore has diversified its revenue streams, bringing new products to new sectors in three new regions in just 12 months, mitigating profit losses caused by major project postponements in the oil and gas sector.
Benefits • Much quicker process to expand into a new country • US$2m in expected revenues
For government • Fix issues caused by Brexit. Companies are being tempted to move out of the UK due to VAT issues.
Government support? The company has joined DIT trade missions.
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Main industries served: • Offshore oil and gas – 40% • Onshore oil and gas – 2% • Renewables – 35% • Non-energy – 23% Headquarters: Wimbledon, UK Year established: 1993 Number of employees: 15 Revenue: £12m Revenue from exports: 98%
@TheEICEnergy
EIC (Energy Industries Council)
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