Bulgarian shipping company Navibulgar to buy 4 ships for US$32m

Geneva - Switzerland’s ABC Maritime is to sell Bulgarian maritime shipping company, Navibulgar, four 36,500-deadweight tonnage (dwt) sister ships.

Geneva - Switzerland’s ABC Maritime is to sell Bulgarian maritime shipping company, Navibulgar, four 36,500-deadweight tonnage (dwt) sister ships. “The total amount of investment will exceed US$32 million; the purchasing procedure has not been completed yet,” Navibulgar’s sales and purchases department manager, Rumen Krastev, told SeeNews. The company said in July it operated a fleet of 28 modern bulk carriers and planned to raise its number to 32 by year end, reported Hellenic Shipping News. In 2008, Bulgarian-German consortium KG Maritime Shipping bought 70 per cent of Navibulgar from the Bulgarian state and pledged to invest $424 million into the company within a decade, to turn it into the biggest maritime carrier in the Mediterranean area. Navibulgar has a staff of 1,000.

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