Cabo Verde  -  Cabnave Shipyard

Chinese Interest: The Logistics of a Distant Water Fleet

Chinese interest in Cabnave is driven by the logistical necessities of its Distant Water Fishing (DWF) fleet. China possesses the world's largest DWF fleet, with a significant concentration of vessels operating off the coast of West Africa.

• Fleet Support: Chinese fishing vessels operating in the Atlantic require regular maintenance, repairs, and resupply. Currently, Cabnave actively repairs Chinese ships. Securing a dedicated facility like Cabnave would provide a strategic "pit stop" for the Chinese fleet, reducing the need to return to Asia or rely on more expensive European facilities.
• Infrastructure Investment: Chinese involvement extends beyond just ship repair. The China Road & Bridge Corporation (CRBC) has previously announced plans to build a deep-water port and cruise terminal in Mindelo, explicitly including the rehabilitation of the Cabnave shipyards in its proposal. This aligns with the "Sea Group" strategy to make Mindelo a competitor to ports in Dakar and Las Palmas.
• Strategic Partnership: The rehabilitation of Cabnave is considered a "transformative project" within the ZEEMSV framework, which has been developed with technical and planning support from the People's Republic of China.

Modernization and Expansion Plans

The government of Cabo Verde aims to upgrade Cabnave to handle larger vessels and improve efficiency. This modernization is critical for the facility to serve as a credible mid-Atlantic hub.

• Capacity Increase: The vision for the shipyard involves infrastructure improvements and the acquisition of new equipment to strengthen national capacity for ship maintenance.
• European Competition/Cooperation: While Chinese interest is strong, the European Union is also a key player in Cabnave's future. In late 2025, the European Investment Bank (EIB) signed a €33.3 million grant agreement with Cabo Verde to modernize strategic ports, which explicitly includes the rehabilitation and modernization of Cabnave. This highlights the shipyard's geopolitical significance, attracting investment interest from both East and West.

Summary

Cabnave is more than a local shipyard; it is a strategic asset in the Atlantic. For Chinese enterprises like CNFC or CRBC, controlling or partnering with Cabnave offers a critical logistical node for their massive West African fishing fleets. For Cabo Verde, the shipyard's privatization and modernization are essential steps toward realizing the "Ambition 2030" goal of becoming a maritime logistics platform. Whether through Chinese partnership or European funding, Cabnave is poised for a major transformation to accommodate the heavy traffic of the mid-Atlantic.

Location of Cabnave in Mindelo

Facts & Figure - Cabnave

Here are the facts and figures regarding Cabnave (Estaleiros Navais de Cabo Verde):

Overview and Location

• Identity: Cabnave is the principal shipyard in Cabo Verde, dedicated to naval repair, construction, and related activities.
• Location: It is located in the Matiota area of Mindelo, on the island of São Vicente, occupying an area of approximately 12 hectares.
• Strategic Importance: It is considered a vital asset for maintaining the domestic shipping fleet. Without Cabnave, shipowners would be forced to travel to Dakar (Senegal) or Las Palmas (Canary Islands) for maintenance, resulting in higher costs and longer periods out of service.

Ownership and Corporate Structure

• Structure: It is a Public Limited Company (Sociedade Anónima).
• Shareholders: The company is predominantly state-owned. The State of Cabo Verde holds approximately 98.9% to 99% of the capital, with the remaining small percentage (approx. 1%) held by private entities or workers.
• Holdings: Cabnave itself is a shareholder in other entities, notably holding 34% of SODIGÁS (a gas production and commercialization company) as of 1999.

Infrastructure and Capacity

• Facilities: The shipyard includes:
  • A dry dock accommodating up to six ships simultaneously, with dimensions of 110m x 16m.
  • A floating dock with a length of 145m.
• Capacity: It can handle vessels up to 2,800 tons with a draft of 5 meters.
• Primary Service: Its core business is emergency repair services for medium-sized vessels.

Operational and Financial Performance (2022 Figures)

• Activity Volume: In 2022, Cabnave performed repairs on 60 ships.
• Client Base: The clientele includes national vessels (which contributed 56.4% of total revenues in 2022) as well as foreign vessels, specifically from China and Spain.
• Financial Health:
  • In 2022, the company reduced its financial losses by 80%, dropping from €55,300 to €10,700.
  • Revenues increased by 8% in 2022.
  • However, the company struggles with low solvency and had outstanding debts amounting to €700,000 as of the 2022 reporting period.

Future Outlook and Modernization

• Privatization Plans: The government has long intended to privatize or sub-concession the shipyard. A tender process was initiated in 2016/2017 (awarded to Grupo ETE), but it was subsequently cancelled.
• Modernization Needs: The facilities require substantial improvements, specifically to rebuild technical capacity for dry-docking larger vessels.
• Investment Required: The government estimates that initial investments for modernization will range between €10 million and €25 million.
• Strategy: The long-term goal is to position Cabo Verde as a ship repair hub for West Africa. The World Bank is financing feasibility studies to assess the necessary investments, after which the government plans to explore a Public-Private Partnership (PPP).