In 2003, the company managed to cover it costs, and the company stated that it hoped to have a revenue of NOK 30 million the following year, through an ambitious expansion plan. A private offering for NOK 8 million was issued to allow this expansion. Among the purchasers was the Municipality of Narvik and Narvik Port Authority. In March, Chair Rune Arnøy was forced to withdraw after accusations of conflict of interest, since he was both chair of Ofotbanen and harbormaster at the Port of Narvik. CargoNet, a freight competitor of Ofotbanen, had felt that they were being unfairly treated by the port after the municipality had bought shares in Ofotbanen and appointed Arnøy as chair. The legality of the port's purchase of the shares was considered by the Norwegian Coastal Administration; though deemed legal, the port authority was required to sell the shares within three years. In April, Ofotbanen received a permit to operate in Sweden, and started offering charter trains between Narvik and Kiruna in Sweden, primarily for cruise ship passengers. It also announced that it was going to bid for the public service obligations for subsidized passenger railway transport that the government was planning to conduct in 2006. In June, Ofotbanen received permission to operate freight trains throughout the entire railway network in Norway. This was the first time such permission was granted to a different company than NSB or its subsidiaries.