Damen Signs Contract with the Polidano Group for Two Combi Freighters (CF) 3850

Polidano approached Damen due to the reputation of the CF 3850 in the market. The company will use the vessels to replace a single vessel it currently operates, thereby significantly increasing its cargo capacity.

Polidano typically transports aggregates from Montenegro to Malta. The CF 3850, with its box-shaped hold and tween deck, offers multiple cargo configurations. With this, the company will be able to transport a wide range of cargoes, including containers and breakbulk, on their return journey, as well as more widely in the Mediterranean region.

The CF 3850 vessels will also provide the Polidano with increased efficiency. The vessel’s modern hull design and minimal resistance in the water are part of Damen’s concerted effort to reduce both fuel consumption and emissions to a minimum.

A further advantage that led the company to approach Damen was the shipbuilder’s ability to provide a fast delivery. It is Damen’s practice to construct its proven vessels in series, often for stock. The two CF 3850 vessels were already in construction at Damen’s yard in China prior to Polidano placing its order.

As a result, the company will be able to take delivery of both vessels within a year of signing the contract. Damen expects to deliver the first vessel this year, and the second in Q1 2027.

Gordon Polidano, CEO of Polidano, said, “We are very pleased to place this order with Damen Shipyards Group. It is the aim of our company to always remain ahead of the curve and we believe these vessels, which are renowned in the industry for their performance, will position us well for the coming years. As the first newbuild cargo vessels to be constructed for our country in some time, the CF 3850 vessels represent a boost in capability, not only for us, but for Malta.”

MeDirect Bank collaborated with Polidano to make this acquisition possible. Jean-Claude Maher, Group Chief Executive Officer at MeDirect, said, “This marquee deal highlights both our willingness and ability to break new ground and support Malta based companies with ambition to achieve their goals.”

Joppe Neijens, Sales Manager for Damen Cargo Vessels, said, “There is a good connection between Damen and Polidano. Our two organisations are both family businesses and we share the same entrepreneurial spirit. The company is well known as a leader in its sector, and we are very proud that they have chosen to place their trust in Damen, having heard of the qualities of the CF 3850 vessel.

“This order represents a milestone moment for Damen, comprising the 49th and 50th CF 3850 vessels to be ordered since we launched the next-generation design just five years ago. We have every confidence that the vessels will serve Polidano well in the years ahead.”

Polidano is a well-established group of companies in Malta where, over the past four decades, it has shaped the construction industry in the island nation. The group is divided into three main segments –construction and infrastructure, property development, hospitality and leisure. The expansion and modernisation of the fleet will enhance Polidano’s operation, a reality where efficiency and cost effectiveness for the importation of materials is paramount. The company’s philosophy is to invest continually in innovation in order to improve both its competences and its environmental performance.