"Navigation Maritime Bulgare" renewed its fleet with four new vessels for a total amount of USD 115 million

05.08.2010 - New Vessels

Till the end of year 2010, the Company is expected to purchase another four 30,700 DWT and two 17,500 DWT vessels with which, the total investments will reach USD 260 million.

In implementing its fleet development plans, the management of Navigation Maritime Bulgare signed contracts and acquired four new bulk carriers: two vessels of 37,850 DWT and two of 30,700 DWT.

The two 37,850 DWT vessels which fly Maltese flag were named “Rodina” and “Bulgaria”, refreshing the tradition dated back to the end of XIX and beginning of XX centuries, where Bulgarian sailors had been proud to work on board of vessels with similar names. These two vessels are actually the “fourth generation” vessels in the Company’s history, being named with the same names.



Motor vessels “Rodina” and “Bulgaria” are of the same type and they were both built in China, at the beginning of 2010. They have ice class 1C, and are equipped with four cranes each, capable of lifting up to 30 tons, an unique feature which makes the vessels convenient for use, in all major world trades. Their main particulars are as follows: LOA – 190 m., Breadth – 28,5 m. and Draft – 10,6 m., operational range – 20,000 nautical miles. The vessels are equipped with the most modern navigation and communication equipment, complying with the requirements of the current international conventions related to merchant shipping

The management of the company has appointed as a master of motor vessel “Rodina” - Martin Yordanov and as a chief engineer - Simeon Simeonov. For motor vessel “Bulgaria”, the appointed master is Gencho Hristov, and the chief engineer is Nikolay Mitev

Even the first reports of master Martin Yordanov evidence, that the characteristics of motor vessel “Rodina” are extremely good and the same were well proven during the sailing of the vessel in heavy seas in the Indian ocean. Presently motor vessel “Rodina” is performing her first regular voyage from Saudi Arabia to Brazil, and motor vessel “Bulgaria” performing a voyage from China to India.

Now the procedure for the acquisition of two other bulk carriers of 30,700 DWT each is complete. They will also be given traditional for Navigation Maritime Bulgare names: “Vitosha” and “Strandja”. They were built in one of the leading Chinese shipyards and presently with a Bulgarian master and crew on board they perform their first trials. The vessels “Vitosha” and “Strandja” are of the same type, and their particulars are as follows: LOA – 186 m., Breadth – 23,70 m. and Draft – 10,40 m., the service speed is over 14 knots and the operational range is 14,800 nautical miles. They also have ice class 1C, and they can be deployed to any part of the world, including the Great Lakes.

With the purchase of the above-mentioned new vessels and by spending some USD 260 million, the Company is well ahead of its renewal schedule. Thus the majority shareholders of Navigation Maritime Bulgare – the German-Bulgarian consortium KG Maritime Shipping will fulfil as early as 2010 the duties undertaken under the privatization contract with respect to the amount of the investment during the first 5 years.

With the acquisition of the new vessels the majority shareholders of Navigation Maritime Bulgare not only fulfil their ambitious investment program, but also make possible in times of economic crisis to continue to strengthen the image of the Company as a reliable partner and a competitive maritime carrier on the international market.

Navigation Maritime Bulgare, press release