Yes, cargo is in the scrabble dictionary

...and is worth 10 points by itself.

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Cargo Definition

noun

The freight carried by a ship, an aircraft, or another vehicle.
from The American Heritage Dictionary of the English Language, 4th Edition
The goods or merchandise conveyed in a ship, airplane, or vehicle .
from Free Scrabble Dictionary

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Top Words by points

Points

cargo

8

2 letter words with CARGO

Points

ar

2

or

2

go

3

ag

3

3 letter words with CARGO

Points

gar

4

roc

5

rag

4

org

4

orc

5

ora

3

oca

5

oar

3

gor

4

goa

4

arc

5

ago

4

cor

5

cog

6

car

5

aro

3

4 letter words with CARGO

Points

crag

7

arco

6

agro

5

orca

6

acro

6

5 letter words with CARGO

Points

cargo

8

Found 26 words in 0.15991 seconds