Navrom News

Romania's government reportedly allocated funds for the safe operation of ships belonging to state-run Navrom and Romline shipping companies and to rotate and repatriate their crews.

PriceWaterhouseCoopers, liquidator of Romanian state-run shipping company Navrom Constanta, said it sold six Navrom-owned cargo vessels at an auction in the Black Sea port of Constanta. A PricewaterhouseCoopers statement said the six ships, with capacities ranging from 2,800 dwt to 4,800 dwt had been sold "as are, where are" for a total of $1.44 million. Last year, a court in Constanta launched bankruptcy procedures against Navrom due to unpaid debts worth tens of millions of dollars. PricewaterhouseCoopers was appointed liquidator of company assets. Some 320 ships sailed under Navrom flag before the 1989 collapse of communism. In 1999, the company operated less then 20 ships.