Bulgaria Maritime Fleet to Borrow $70m for New Ships

Monday, December 18, 2006
NMB, Bulgaria's national maritime fleet, will take out a $70 mln loan from HSH Nordbank AG for the purchase of 3 new vessels, said executive director Hristo Donev. The company is trying to address the problem of its ageing fleet and related high maintenance costs. NMB, which has decommissioned 5 ships over the past couple of months, has placed orders for 2 new vessels with local ship-builder Bulyard. One of them will be furnished as collateral for the Nordbank loan. The loan money will be spent on 2-3 new vessels, possibly manufactured as recently as 2002, said Donev. NMB may also opt to buy vessels still under construction and sell them on. NMB posted a profit of 25.1 mln levs in January-October 2006, down 15 mln levs year-on-year. Payroll and social security costs increased by 5.5 mln levs. Source: Dnevnik
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

GasLog Acquires 2 BG Group's Carriers

GasLog Ltd. completed the acquisition of two LNG carriers from Methane Services Limited (“MSL”), a subsidiary of BG Group plc (“BG”), which was previously announced on December 22, 2014.

Radio Holland bags Ahrenkiel Contract

Ahrenkiel Steamship GmbH & Co. KG and Radio Holland Germany GmbH, part of Imtech Marine, have agreed a long-term maintenance agreement for the entire Ahrenkiel Steamship fleet,

Chevron's Kirkland to Retire

Chevron Corporation confirmed today that George L. Kirkland, vice chairman and executive vice president, Upstream, will retire from the company, effective June 15.

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1163 sec (9 req/sec)