"Varna-West Port" reports BGL 14 m in profit in 1995. The information was announced by Alexander Stankov executive director of the company. In 1995 the port has processed cargoes by 600,000 t. more in comparison with 1994.
Source: Pari (23.01.1996)

Batumi is Poti's main contender for linking with Varna for ferry, announced Stoyan Paunov, Director of the Varna port. After signing the principal agreement on a line to Georgia Bulgarian experts considered Batumi is the better option. Georgian port will be able to meet train compositions in 3 year's time at the earliest and over USD 100 million should be invested.
Source: Pari (22.10.1996)

The Varna port has realized incomes in the amount of BGL 898,5 million for the third quarter of 1996. For this period have been processed loads in the amount of 1,470 million tons and the total goods' turnover since the beginning of 1996 is over 4 million tons.
Source: Standart (28.10.1996)

The Minister of Transport dismissed the Director of "Varna Port" Ltd Stoyan Paunov..
Source: Trud (06.02.1997)

The new Boards of Directors of "Varna Port" and Navigation Maritime Bulgare JSC will have 5 members each. Ivan Borisov remains Executive Director of Navigation Maritime Bulgare JSC and Roumen Nestorov will manage "Varna Port".
Source: Pari (27.03.1997)

The incomes of "Varna Port" from the shipment activities for 1996 was in the amount of BGL 2.971 billion and the net profit of the company amounted to BGL 156 million. The number of the ships which were loaded (unloaded) at the port for the same year was 1377.
Source: Trud (03.05.1997)

Varna Port had incomes in the amount of BGL 15 billion for the first half of 1997 and the net profit amounted to BGL 1.4 billion. For the same period the port has paid taxes in the amount of BGL 912 million.
Source: Pari (06.08.1997)

The port "Varna - Zapad" JSC and "Marvex" Ltd. will finance a re-equipment of quay No 4. On this quay get serviced the loads of "Devnenski Tziment" JSC, which is owned by "Marvex" Ltd. The new equipment was bought in Spain.
Source: Democracy (04.11.1997)

The loss of the state-owned "Varna Port" JSC (Varna) for the last quarter of the previous year was in the amount of BGL 600 million, the new Executive Director of the port Mr. Dimitar Dimitrov reported.
Source: Pari (05.03.1998)

South Corean "Daewoo" demanded from the management of the state-owned "Varna Port" JSC (Varna) an area from port Varna-South to build over it an own transit port for its motors export. It was reported by the Executive Director of "Varna Port" JSC Mr. Dimitar Dimitrov. "Daewoo" exports annualy more than 40,000 motors in the countries from the former Soviet Union.
Source: Pari (06.03.1998)

The sugar plant "Baper Sugar" (Devnya) owes BGL 229 million to Port Varna. The debt of "Agropolychim" JSC to the port amounts to BGL 173 million. "Solvey - Sodi" JSC owes the port BGL 148 million. The total amount of debts of clients of the port is BGL 1,5 billion.
Source: Pari (10.03.1998)

Varna Port owes BGL 1 billion to many companies since the beginning of 1998, said its Director Mr. Dimitar Dimitrov. 70 per cent of the orders are not being executed. Among the ordering companies are "Devnya Tziment", "Solvey Sodi", "Chimko", "Agropolichim".
Source: Kontinent (28.05.1998)

The Belgian companies "Union Minier" and "Apko" will construct a terminal for dangerous loads on Varna - Zapad port.
Source: 24 chasa (12.06.1998)

The Protection of Competition Commission fined "Varna Port" JSC (Varna) by the amount of BGL 5 million. The fee is because of an abuse with a monopoly situation. The port's management did not access private companies to the installation of reprocessing of ships' rubbish.
Source: Standart (02.07.1998)

BGL 1 billion debts were paid by "Varna Port" JSC this year, stated the Executive Director Mr. Dimitar Dimitrov. In the end of 1997 the debts of the company amounted to BGL 1.2 billion. In the period January - October 1998 the commodity circulation decreased by 1 million tones.
Source: Pari (26.11.1998)

"Varna Port" SPJSC will be equipped with 4 new terminals by the year of 2020, according to the port's general plan that was adopted on February 26 by an expert commission of the Ministry of Transport. The modernization of "Port Varna - Zapad" JSC will be done through foreign capital of USD 26 million, according to the plan. USD 15 million will be invested by the Belgian company "ADPO" in the construction of a chemical terminal. USD 11 million are the planned investments of "Union Minier" and the Italian "Italcemente".
Source: Pari (01.03.1999)

Union Minier Pirdop Med JSC reached an agreement with the German company Oiltanking for establishment of a joint-venture company Oiltanking - Bulgaria JSC to build and exploit a storehouse for liquid products at Varna port. The construction will cost over DEM 13 million.
Source: Democracy (30.04.1999)

Off-shore company will be the third candidate in the competition for a concession of one of the terminals in Varna-West Port. The port is specialized for processing of liquid chemical freights.
Source: Pari (03.06.1999)

South-Corean concern DAEWOO will leave port Varna - Zapad in the next 2 months. For 8 months the concern has not paid the port for services. Its debts already amount to BGL 315 million.
Source: Democracy (30.07.1999)

5 private companies will sign contracts for initiation of joint-ventures with Varna Port JSC by the year's end, announced the port's Executive Director Mr. Stoyan Stumpf. These are Union Minier, Solvay - Sodi JSC and Italcemente. Glavbolgarstroy JSC and Stomana JSC - Pernik are still carrying on negotiations.
Source: Pari (30.09.1999)

Southcorean concern DAEWOO is going to close its representation in Varna, stated the Director of Varna-Zapad Port Mr. Ivan Avramov. The concern has unpaid bills to Varna Port.
Source: Pari (14.10.1999)

Within a month Varna Port SPJSC - Varna is going to sign contracts for initiation of joint-ventures with two foreign companies, announced the port's Executive Director Mr. Stoyan Stumpf. The first contract will be signed with the German Oil Tanking, a partner of Union Minier. The second company will be initiated with Italian Italcemente. By this year's end a third contract will be signed with Solvay - Sodi JSC.
Source: Democracy (18.10.1999)

Oiltanking - Bulgaria, a joint venture between Union Minier Prdop Med and Oiltanking of Hamburg, will be building terminal for sulfuric acid at Varna-West sea-port. The Goverment approved the report of the institutional group in support of the investment project on December 16, 1999.
Source: Sega (17.12.1999)

In 2000 through Varna port will be exported 250 000 - 300 000 t cast iron to Kremikovtzi JSC, declared the Executive Director of the port Mr. Stoyan Schtumpf. The cargo turnover of the port for 1999 increased with 300 000 t. Losses of BGN 1.6 million were spent over the second half of the year. It is expected the profit of the company for the year to be BGN 600 000.
Source: Democracy (27.12.1999)

This year direct foreign investments from privatization will amount to USD 600 million, according to pr the Agency for Foreign Investments. Foreign investments in telecommunications are expected to amount to USD 60 million in 2000 and to USD 100 million in 2001.
Source: Pari (04.01.2000)

Port Varna JSC will invest USD 600.000 in reconstruction activities, stated Executive Director Mr. Stoyan Stumpf. The Ministry of Transport has to approve of the port's investment programme.
Source: Pari (04.01.2000)

Varna Port JSC ended 1999 with a net profit of BGN 482.000, announced Mr. Stoyan Stumpf, Executive Director. This positive financial result is 30 per cent higher than the financial result in 1998.
Source: Pari (14.03.2000)

Varna port finished 1999 with BGN 482 000 net profit, announced the Executive Director of the company Mr. Stoyan Shtumpf. The positive financial resulot is with about 30 per cent more than the realized in 1998. The port processed 4 652 000 t cargos. New clients of the port were attracted.
Source: Pari (14.03.2000)

USAID (US Agency for Intenational Development) extended a credit of USD 1,2 million for purchase of transport technology of Chief Roads Department, BDZ and Varna Port JSC.
Source: 24 chasa (12.04.2000)

Six new terminals will be built in Varna port to 2005, stated the Director of the port Mr. Stoian Shtupf. In the terminal for chemicals that has been already developed in cooperation with Oil tanking, will be invested DEM 93 million. To June 15 will be registered a joint-venture company with the owner of Devnia ciment - Mr. Italchimente for a quay with a value of USD 7 million.
Source: Standart (07.06.2000)

The USA Agency for Trade and Development has so far financed Bulgarian transport projects for USD 8 831 070 after the Initiative for Development of the Southern Balkans. The USA Government is financing project in Bulgaria, Macedonia and Albania, announced the Minister of Transport and Communications Mr. Antoni Slavinski.12 projects are being carried out with the money granted to Bulgaria.
Source: Democracy (03.08.2000)

15 234 t wheat from the new harvest are exported from Balchik port to Ukraine and Georgia. Another 6 361 t are exported to Romania. According to traders the exported quantities are rather insufficient for the abilities of Dobrich region. The export is limited because there is not an adequate price for the grain.
Source: Pari (16.08.2000)

American companies have shown interest in the building of the second Dounav bridge at Vidin-Kalafat, was announced by the Minister of Transport of Communications Mr. Antoni Slavinski at his return from Philadelphia yesterday (September 18), where he took part in an international conference about the energetic and transport projects in South-Eastern Europe.. One of those companies is Behtel. American investors have also expressed interest in the building of cargo-terminals at port Varna, Bourgas, as well as in participating in the expansion of Sofia Airport. PA will sign this week a contract with the mediator Deutsche Bank for mediation at the sale of BTC, was meanwhile announced by sources from the working group on the deal. The representatives of Deutsche Bank will arrive on Monday.
Source: Standart (18.09.2000)

The Executive Director of Varna port Mr. Stoyan Shtumph declared that the Ministry of Transport and Communications will receive a dividend in amount of BGN 1.2 million. The expected incomes for 2000 are in amount of BGN 32 470 000. Because of the considerable investments in the infrastructure the gross profit will be BGN 4.215 million. This is with 13 per cent more than the financial result in 1999 when it was BGN 880 000. About 30 companies are candidates for cocessions of the 35th quays in Varna port. By the summer of the next year will be finished the construction of quay for liquid chemicals in Varna-west port. The investor is Oiltanking, Germany and so far it has invested USD 10 million in the project.
Source: Pari (20.12.2000)

A control system of the traffic is going to start at Varna seaside by March 2001. The project is consulted and partly financed by Holland. After the introduction of the system, the administration will be able to observe all parametres of the in-coming and out-going vessels from Varna bay. The data base includes the volume and the kind of the cargos, the direction of the ship, the number of its crew and the speed.
Source: Pari (21.12.2000)

Between BGN 3 million and BGN 3.5 million is the expected gross profit of Varna port for 2000, was reported from the port. The port considerably increased their profits compared to the last year. The cargo turnover of the port raised with about 30 per cent in comparison with the last year. The only one negative side of the company is the double reduced quantities of grain that have been exported this year. The Management of the port considers that because of trade interests a part of the quantities are held in the State in order to be exported next year.
Source: Pari (21.12.2000)

With an order as of February 14 the Minister of Transport and Communications Mr. Antoni Slavinski over 90 per cent from the area of Varna Port SP JSC become a public state-owned property of the Agency Port Administration. 221 109 square km of Varna-east port become a state-owned property. Almost the whole Balchik port will be managed by the Administration. According to the order of Mr. Slavinski, Varna port will have to pay this year again for the managing of the 90 per cent of the territory even though they are not its property anymore.
Source: Black sea (20.02.2001)

In the beginning of March Varna port is going to obtain gratis from USA 4 new tugboats at the amount of USD 480 000 for transporting of containers. By this way the port expects to increase 2 times the efficiency at processing the cargos. The Executive Director of the port Mr. Stoyan Schtumf declared that the tugboats will be allocated at the ports Varna-east and Varna-west. He also added that the combined transports at corridor 8 will be assisted.
Source: Other (20.02.2001)

Solvay Sodi, Italchimente, Agropolihim and Union Miniere refuse to conclude contracts on the new port fees. They were increased as of January 1, 2001.The export of these 4 companies forms 60 per cent of the turnover of the port.
Source: Black sea (23.02.2001)

BGN 26.6 million were invested in 2000 in Devnia ciment - JSC mainly for improving the quality of the production, for reducing the production costs and for preserving the Environment. Almost the same amount will also be invested in 2001. Italchimenti group every year invests about BGN 25 million in the plant. The engagement with the privatization contract is BGN 100 million investments for 10 years. This week in Varna District Court will be registered a joint-venture company between Devnia ciment and Varna Port - SP JSC. The aim of the company is construction of export terminals at the territory of port Varna - West for export of cement.
Source: Monitor (05.03.2001)

The joint venture with Varna Port is a reality after a year of postpone. After numerous scandals among the Port, the Ministry of Transport and the Port Administration the order with the agreement for the establishment of the joint venture of Devnia Tsiment, property of Italchemente, and Varna Port JSC. The main purpose of the establishment of the new legal entity is the construction of a new transport line connecting the cement plant with the null wharf place of Varna port - West. The construction of two silos is also planned. USD 7 million is engaged to invest in the project the newly registered company - Devnia Tsiment ST JSC. The amount of the investment will be distributed between the two shareholders in correlation 74:46 per cent as is the distribution of the capital - 74 per cent or BGN 1.1 million granted from Devnia Tsiment and 46 per cent or BGN 390 000 from Varna Port.
Source: Black sea (06.03.2001)

The opportunities of establishment of new joint-ventured companies and continuing the construction of terminals in Varna port was the main topic which was discussed by representatives of the four companies - creditors, European Bank for Reconstruction and Development, the President of Bulgarian Industrial Association Mr. Bojidar Danev and the Minister of Transport and Communications Mr. Antoni Slavinski. The Directors of Union Miniere, Solvay sodi, Agropolihim and Devnia ciment expressed their readiness to invest in the construction of new transport conveyors for liquid chemical products on the territory of the port with which will be exported a part of its production that can not be sold on Bulgarian market.
Source: BTA (14.03.2001)

Three procedures for concessions for port activities in Varna Port. The companies Oil Tanking, Devnya Cement and Petrolna baza -Varna will be the first which will receive concession on the territory of the port.
Source: Black sea (14.03.2001)

The dockers will be differentiated into a separate trade company has decided on its last meeting the Board of Directors of Varna Port JSC. Together with the present stuff it will receive the administrative and public buildings. The documents for differentiation of the new legal entity have to be presented to the Minister of Transport and Communication Mr. Antony Slavinski within the end of April. The differentiation of the dockers breaks the entirety of the loading process, claim from the National Trade Union of the Port Workers. Their offer is in the new company to enter the mechanizators and the crane-operators as well. This is the only way in which to the future to concessionaires could be offered entire service. If the decision of the Board is really this we will oppose it with all legal means, announced Mr. Todor Gradinarov, chairman of the trade union of the dockers. He thinks that the fears that if the loading process is separated the Varna Port will lose a significant part of its incomes are groundless as it will also lose a lot of its expenditures.
Source: Black sea (20.03.2001)

Lesport will be the first of the 6th Bulgarian trade ports whose property will be transformed in public, announced the Director of the Executive Agency Port administartion Mr. Atanas Andreev. By the end of March the necessary documents will be submitted in the administration. When the company becomes public the buildings and port equipments will be used by the trade company until there appears candidates for concession. There have not so far been candidates.
Source: Black sea (26.03.2001)

The Executive Director of Varna Port SP JSC Mr. Stojan Stumpf declared that the port had not problems with its partners at the negotiations of the conditions for execution of loading activities for 2001. All contracts are concluded with exception of Ital Chemente since the new Executive Director Mr. Fabricio Donega was in Italy. Also with Solvay Sodi is signed a 15-year contract and at the moment their cargos are being processed at the fixed there prices. The port has already lost 40 per cent of the incomes which go in the port administration. The port did not lose even one cargo in comparison with the last year.
Source: Black sea (28.03.2001)

It is expected within two weeks the Minister of Finance to set up the Foundation Meeting for Transit Trade Zone Varna JSC. The establishment of the company satisfies the requirements of the Law for Customs. Its activity will have all elements of free of duty zones. The free zone will occupy 103 decres private state property on the island under the Asparuh Bridge 100 decres of it represent the apport implement of the state. The triple court expertise has evaluated this land to BGN 460 000. These are the personal shares of the state - 46 per cent of the start capital which is expected to be BGN 1 million. During the development of the program we sent about 30 letters to the leading companies in the area of shipping but 90 per cent of them were skeptic. As founders in the project will be invited the companies that has financed the project : Varna Port JSC, Portovi Flot, Meritaim Group, Ahileos Shiping, Industrial Economic Association, Kargoexpres, the dealer of Balkanstar - Avangard, Putishta I Mostove, State Insurance Institute. The final finance of the zone by project is BGN 8 059 000 for a part of which will apply Bulgarian and foreign financial institutions. We have already been in negotiations with the European Bank for Reconstruction and Development and we have certain hopes, announced Mr. Julian Gendov - the deputy regional governor The construction of the zone will pass through three stages. The first has started in May with its fencing with 2.40 meters fence, the construction of the infrastructure and of the building of the customs administration with a staff of 8 people. The project foresees on the island to be situated three covered warehouses, each of them with a territory of 5700 sq.m., opened warehouses with an area of 60 000 sq.m. connection with the passing near by railroad, construction of two wharves. Within the end of the third year the zone will give job to 167 people, without counting the stuff of the companies that will rent warehouses in it and the effect it would have for the development of the region with the increase of the commodity circulation. The return of the investments is expected after five years and six months. The development of the transit trade zone in Varna and the existence of a free of duty zone in Russe will allow the development of free of duty canal Varna-Russe, claim the authors of the project. The foreign investors are interested in this possibility as thus through the canal Rein-Main-Danube , West Europe will be connected with Asia.
Source: Black sea (04.04.2001)

The Executive Director of Varna port Mr. Stoyan Shtumpf will take measures for security in the port. The terminal will be secured with fences that will be constructed by Glavbolgarstroy.
Source: Black sea (17.04.2001)

The workers of Varna-west port wanted the company to be separated as an independent trade company. According to the workers the incomes in the western part of the port are more than these in the eastern part and the profit is distributed equally although at the moment Varna-west has 5 times higher loading in comparison with Varna-east.
Source: Dnevnik (18.04.2001)

Until recently the companies have to transfer their taxes only through banks. From this year on thay also may pay the sums cash in the tax offices. Nevertheless the payments still are mainly through bank. The tax offices work with 6 banks. They are TB Biochim, TB Hebros, Expressbank , Bulbank, UBB and Bank DSK.Bulbank attends Bulgargas, the management of the air traffic. The same bank attends also the Ministry of Defence, NEC, BSR .
Source: Sega (23.04.2001)

Competition Protection Commission imposed a fine of BGN 300 000 on Varna Port SP JSC. The penalty was imposed for refusal of access to the market of gathering and treatment of hard scraps from the ships. The Commission also punished the taxi company Crystal express 1280 Ltd. for the use of stickers that may mislead the passengers.
Source: BTA (27.04.2001)

More than EUR 11 million costs the new Bulgarian-Dutch radio-location network for management of the ship-traffic in the port of Varna. It was opened yesterday by the Minister of Transport Mr. Slavinski and experts from the Dutch Institute for Traffic and Technologies. The system VTS is developed in the Cherno More plant in Varna and will attend six operators simultaneously at the tower of the port. It is a joint product with the Dutch consortium HITT. The location system is a part of the global project for general control of the traffic at the coast of the Black Sea. It foresees additional montage of this type video-cameras and stations at the coast within 2008. According to unconfirmed information the Japanese equipment is negotiated for not more than USD 15 million and will be installed in the free zone in Iran.
Source: Democracy (03.05.2001)

The serious candidates for concession in Varna port are Oiltanking-Bulgaria JSC, Italchimente and Solvay, announced the Director of the port Mr. Stoyan Shtumpf. Oiltanking is now building a terminal for liquid chemicals in Varna-west port. Mr. Shtumpf also added that this year the cargo turnover will exceed 6 million t. The growth over the first quarter of 2001 in comparison with the last year is with 22 per cent.
Source: Sega (04.05.2001)

US ambassador to Bulgaria - Richard Miles, committed himself to personally help for the renovation of the machine-park of 'Port Varna' EAD, said yesterday CEO Stoyan Stumpf. The ambassador had provided one of the new 10 machines for cargo operations. For the celebration of the 95 anniversary of the port we expect ambassador Miles and Minister Antony Slavinski to open the new park. The annual turnover of commodities passing through the port will up by 6 million tons.
Source: Standart (04.05.2001)

Tranzitna Targovska Zona Varna, JSC will be registered with a capital of BGN 1 million and a temporary address in the building of the Industrial Economic Association, decided the 22 founders of the company. In the conference hall of the Municipal Administration was conducted the Foundation Meeting which accepted the statute and distributed the share participation. The biggest stake of shares - 46 per cent, belongs to the state in return of non-monetary contribution of 100 decres land in the Southern Industrial Zone, acted as private state property and evaluated by triple court expertise to BGN 460 000. The next by the size of the participation is Ahileos Ltd. - with 20 per cent of the capital. With 5 per cent participate both the agency of Despred in Varna and the business club Dalas. Among the founders of the company are not Varna port SPJSC and Port Marine because the Ministry of Transport which is their principal, postponed the procedure for the permission of their participation in the company. Yesterday we solve the misunderstanding with Minister Slavinski and we have his assurance that the bureaucratic obstacles will be removed within ten days, said Mr. Julian Gendov from the Municipal Administration. Both companies will be accepted as shareholders at the next meeting without their inclusion to raise the capital, explained the chief secretary of the Ministry of Finance Mr. Petar Nikolov, who represented the department in the Foundation Meeting.
Source: Black sea (04.05.2001)

The net profit of Varna port for 2000 increased up to BGN 2.291 million in 1999. The positive financial results are due to the increased export from the plants Solvay Sodi, Devnia ciment and Agropolihim whose main export is executed through Varna port. The port that is entirely state-owned property registered a growth of the net profit of 37 per cent for 1999 in comparison with 1998. This is due to the rise of 32 per cent of the traffic of cargos thanks to the progress of the Bulgarian industry after the financial crisis in 1997.
Source: Standart (07.05.2001)

Devnia Ciment will export 1.3 million t cement in 2001 to USA, Spain, Turkey and the countries from Africa. At the moment the company is working with full capacity and in it are employed 550 workers. Over this year the owner Italchimente will invest in the plant BGN 25 million. One of the main projects by the end of the year is the construction of a terminal at the amount of USD 14 million on Varna port.
Source: Black sea (25.06.2001)

Varna and Bourgas ports reported a drastic fall in the incomes for the firs three months of 2001 year in comparison with the same period last year. The income of Port Bourgas is BGN 307 000 , and for the same period last year it is BGN 2, 743 millions. The incomes of Varna harbor is BGN 9 000 and for the same period last year it is BGN 625 000.
Source: Black sea (12.07.2001)

Four foreign investors complained yesterday to the Minister of Transport and Communication Mr. Antony Slavinski from the drastically lifting of the prices of the fees for loading and unshipping activities at the ports. The industrial giants Union Minier, Solvay Sodi, Agropolichim and Devnya Tsiment demanded from the Minister of Transport decrease of the fees at the ports. The amount of the processed in the ports grows and the prices instead of falling increase, claim the representatives of the four companies. According to them from the beginning of this year the ports have raised the prices between 30 and 50 per cent. The problem with Port Varna is the biggest, according to the experts from the ministry. The cargo circulation has increased two times as compared to 1999 and the growth of the fees is almost the same. The fees that the clients pay at the ports are two groups. In the first one are included the state fees - tonnage, as well as the fees for the use of the wharves and canals of the port. In the other group are included the prices of loading and unshipping activities at the ports and processing of the cargos. Until recently both kinds of fees were gathered and reminded at the ports. Wit h the making effective of the Law for the Sea Spaces, internal water ways and the ports of Republic of Bulgaria they are now gathered by the by the Executive Agency Port Administration at the Ministry of Transport and Communication, that was established by the same law. At the ports remain only the fees from the processing of the cargos." The managements of the ports are apparently trying to compensate the lacks of the state fees by an increase of the prices of the fees for loading and unshipping activities. A port should not just gather fees, it should make profit from the services it makes and from the commodity circulation - that is the logic of the market", commented from the transport department. Meanwhile during the last year the state fees were decreased with average 40 per cent. Before the decreasing of the fees they used to remain at the ports. From these incomes Bourgas port managed to allocate 25 per cent for clearing of the sea floor. The rest of the sum was given to fund Salaries. In Varna port during 2000 for clearing of the seabed are allocated only 15 per cent. According to the data of the Ministry, now when the state fees are gathered by Port Administration, 90 per cent of them will be used for clearing of the seabed and reconstruction of the infrastructure of the both ports. According to the official information of the ministry the ports have increased the prices with about 6o-70 per cent. In order to keep the amount of the expenditures of the clients the same after the decrease of the state fees the ports should raise the prices with not more than 35 per cent. According to the experts the financial state of the both ports is good they have positive total turn over and such a drastic raise of the prices of their services is not needed.
Source: Capital (13.07.2001)

A new project for building of yacht port for 700 boats in Karantina near Galata cape is ready, announced Mr. Hristo Tzvetkov, manager of Pristanishtna Administracia. In Bulgaria there is no such port.
Source: Standart (17.07.2001)

The Agency Pristansihtna Administracia wanted the port in Varna to be divided in two parts: Varna East and Varna West. The port in Balchick will be separated too.
Source: Democracy (31.07.2001)

Varna District Court registered changes for Lesport SPJSC. As a member of the Board of Directors is wrote off Mr. Boyan Jekov. As a member of the Board is registered Mr. Svetlan Zlatev
Source: State Gazette (31.08.2001)

Robots will unload the tanks with chemical materials at the chemical terminal of the fertilizers' plant Agropolichim JSC. This is included in the plan for the construction of the terminal. The project is joint venture of Oiltanking JSC, Union Miniere Pirdop med JSC and port Varna. It is planed that the capacity of the terminal will reach 25 wagons a day.
Source: Black sea (04.09.2001)

The first specialized terminal for processing of liquid chemical products in Eastern Europe and in the region of Black sea will be officially opened tomorrow in port Varna-west. The capacity of the equipment is for processing of 500 000 t sulphurous acid annually. For the realization of the project in July 1999 was registered the joint-venture company Oil tanking Bulgaria JSC in which shareholders are Unikor Med JSC, Oiltanking - Hamburg and Varna Port SP JSC. BGN 12.5 were invested in the new terminal.
Source: Black sea (17.09.2001)

Oiltanking invested DEM 12 million in the terminal for liquid chemical loads. 500 000 tons of sulfur acid will be processed in Varna-Zapad annually for the next two years. According to the investors from Oiltanking this is the first in Eastern Europe and in the region of Black Sea independent terminal for processing of liquid products. The company holds 48 terminals from this kind in the whole world. It has invested in the wharf place DEM 12 million. 40 per cent of them are own means and the other 60 per cent are finances from a bank in Hamburg. In the joint venture, registered for the realization of the project, with 27.5 per cent participate Port Varna SPJSC. The rest of the shares are distributed between Oiltanking and its partner Umicore med JSC. The capacity of the equipment for processing is 500 000 tons of sulfur acid annually for the first two years.
Source: Black sea (20.09.2001)

Varna Port and Navigation Maritime Bulgare expect financial losses because of the war. In the business plan of the port are assigned annual incomes of about BGN 27.5 million and the profit will exceed BGN 1 million. NMB has to pay additional insurance premiums because of the risk zones.
Source: Standart (12.10.2001)

The changes in the Board of Directors of Bourgas port will be announced today by the Minister of Transport Mr. Plamen Petrov. The former Chairman Mrs. Tayana Stefanova was dismissed by the Ministry of Transport. It is expect that she will leave then position of Chairman of the Board of Directors of the port as well. There is a rumor that her place will be occupied by Mr. Vladimir Karolev from the King's Movement.
Source: Standart (22.10.2001)

The construction of a pipeline between Agroppolichim and the opened in the middle of September terminal for liquid chemicals of Oiltanking in Varna Port started. The construction of a third reservoir at Varna port continues. The reservoir will increase the annual capacity of the terminal to 800 000 tons. Both projects cost BGN 2.5 million. The company has applied documentary for concession for the wharf and will probably be the first company which receive a long-term right for use of the equipment.
Source: Black sea (22.10.2001)

54 Executive Directors, members of Boards, Managers and Supervisory Boards of all significant companies from the area of transport and communications were replaced with an order of the Minister of Transport Mr. Plamen Petrov. Among these companies are Air Traffic Control, Bulgarian State Railways, Navigation Maritime Bulgare, Bulgarian post, Razprostranenie na pechata, Transimpex, Airports. An order for exchanging the Board of Directors of Bulgarian Telecommunication Company is not signed yet. Navigation Maritime Bulgare and Varna Port are with completely new Boards of Directors.
Source: Sega (02.11.2001)

Mr. Danail Papazov was appointed for an Executive Director of Port Varna JSC. The other members of the new Board of Directors are the Deputy Minister of Transport Mr. Luibomil Ivanov, Mrs. Nina Belenska Nachenska and Mr. Delyan Peevski. Chairman of the Board is Mr. Luibomil Ivanov.
Source: Black sea (07.11.2001)

The Chairman of the Supervisory Board of Nova Plama Mr. Zhan Kristof Votren announced that the refinery is ready to start work. All conversations of the management of Nova Plama with the Government were successfully and the expectations are that within the end of the month the problems of the refinery will be solved. As one of the main problems was determined the lack of technical ability for deliveries of raw oil. The reason for this problem are the unsettled relations with Petrol-Varna port.
Source: BTA (08.11.2001)

The new Executive Director of Varna Port JSC Mr. Danail Papazov took his position. His start in the management was at the same time as the end of the financial revision for the period 1998-2000. The new management of the port intends to continue its politics for attracting of investors following the model of Oiltanking. Contracts of that kind may be concluded with most of the traditional cargo deliverers - Agropolichim, Solvay Sodi, Mersk, Kaolin - Senovo.
Source: Black sea (13.11.2001)

The Minister of Transport and Communications Mr. Plamen Petrov signed orders for change of the Board of Directors of Bulgarian posts SP JSC. At the place of Mr. Kamen Konstantinov is selected Ms. Stana Hristova as a new member.
Source: Government bulletin (14.11.2001)

Hungarians are interested in Varna port and kamchia resort, announced the Deputy Director of Bulgarian-Hungarian businessclub Mr. Atanas Atanasov. On December 3 in Varna will be opened Information centre in the business club. Its activity will be connected with providing of legal and financial information for interested Bulgarian and Hungarian companies, business forums, participations in exhibitions and fairs and others.
Source: Standart (27.11.2001)

The Supervisory Board of Nova Plama JSC appointed Mr. Rossen Sofroniev for Executive Director of the company. The former Director Mr. Evangelos Barutas and the representative of the owners Mr. George Boduen become his consultants. At a meeting with the Ministers Mr. Nikolai Vassilev and Mr. Milen Velchev, the new management team of the refinery was assured that very soon will be solved the final hinders for launch of Nova Plama.
Source: Dnevnik (30.11.2001)

Varna branch of EIBank granted BGN 7.989 million within the end of October. The tourism is credited with priority. The branch in Varna has existed for 5 years. At the moment it is at the third place after Sofia and Plovdiv considering the attracted funds and at the first place in the State in the system of EIBank, regarding the incomes of the personnel. By October 31, 2001 the profit of the branch in Varna is BGN 532 000. 542 companies' accounts and 2564 citizens' accounts were opened. Among the big corporate clients are Zlatni piasatzi, Navigation Maritime bulgare, Glavbolgarstroy Varna, TPS Varna..
Source: Pari (30.11.2001)

BGN 1 million will be spent within the end of the year for the repair of the water-supply network in Varna-zapad port. By this moment in the rehabilitation of the sewerage system had been invested BGN 9 million. There is no concrete and serious investor’s interest for the project of the construction of a grain terminal in Varna-port. The location for the construction of the gas-terminal at the port is not chosen yet.
Source: Black sea (03.12.2001)

The lawyer of the Ministry of Transport and Communications Mrs. Mariyana Rangelova is the new Chairman of the Board of Directors of Lesport port. Two months ago from the Board were dismissed Mr. Svilen Kraichev and Mr. Svetlan Zlatev. For a n Executive Directors of the company was appointed the former Director of the container terminal of Varna-Iztok port Mr. Evgeni Moskov.
Source: Black sea (17.12.2001)

The applicants for concessionaire of Varna port for the moment are 33. Among them are the main clients such as the chemical plants in Devnya. The term of the concession is 35 years but it may also become 50 years. The net profit of the port for this year is BGN 2 437 000.
Source: BTA (27.12.2001)

The applicants fort concession of Varna port are 33. According to the Executive Director some of them are main clients but there some who do not know what are they applying for. The business progranmme of the port for the next year includes a growth of 5 per cent of the incomes and the cargoes. At the moment are discussed the opportunities to continuing of the activity of the company after it is restructured. The amount of the incomes of Varna port in the end of the year is BGN 29 187 000.
Source: Monitor (28.12.2001)

More than 30 applications for the Bulgarian airports and ports were received from foreign companies in the Ministry of Transport and Communications. The interest is caused by the publishing of the invitation to the foreign investors in the site of the Ministry and the foreign media. Objects of the concession are all civil airports and ports in Varna, Bourgas, Lom, Vidin and Russe. The elected applicants will be responsible for the exploitation and the technical support of the object as well as for the construction of new terminals.
Source: Sega (29.12.2001)

The activity of the dockers and the mechanics in Varna Port will be separated in a company in accordance to the changes in the Sea Spaces, Internal Water Roads and Ports Law. The management of the port and the trade unions are discussing the details for the development of the new structure, announced the Executive Director of the port Mr. Danail Papazov. Between 5 and 10 per cent growth of the incomes is planned in the business programme for 2002.
Source: BTA (02.01.2002)

The cargo turnover of Varna port SP JSC for the last year is 5.8 million t and the serviced ships are 1195, according to the Executive Director Mr. Danail Papazov. The incomes of BGN 29 187 000 exceed those for 2000 BGN 30 034 since in them are included the quay and ship cargos.
Source: Black sea (04.01.2002)

The business programme of Varna port for 2002 includes a growth of between 5 and 10 per cent of the cargoes and incomes of the programme, announced its Director Mr. Danail Papazov. The claimed that this prognosis is based on the contracts that are already concluded.
Source: Capital (05.01.2002)

In the Boards of Management of Navigation Maritime Bulgare, Varna Port and other transport companies in the city will be exchanged. The reason are the suspicions that members of the Boards have participated in deals which harmed the interest of the State. In the end of last year the Minister of Transport and Communications Mr. Plamen Petrov exchanged the Boards of Directors of the ports and the Airports in Varna and Bourgas.
Source: BTA (09.01.2002)

Bulgarian State Railways has reported a loss of BGN 120 million as for 2001, show the data of the Ministry of Transport. The negative result of the company for 2000 was BGN 87 million. Airport Sofia has reported a profit in amount of BGN 11.8 million for the last year and BTC - a profit of BGN 180 million.
Source: Standart (10.01.2002)

National company Ports will gather the port taxes and will manage the public state property on place of the former Executive Agency Port Administration. Since 2000 the taxes were gathered by the Agency which invested them in the ports. The incomes for 2000 were in amount of BGN 12 million. The new company which will be established with the changes in the Sea Spaces Law will be 100 per cent state property. The ports will remain operators whose property will be given under concession.
Source: Dnevnik (24.01.2002)

Varna District Court registered changes for Varna Port - SP JSC: there was registered a new Board of Directors that includes: Mr. Danail Papazov, Mr. Delian Peevski, Ms. Nina Belenska-Nachevska, Mr. Lubomil Ivanov and Mr. Emil Penkov; the company is managed and represented by Mr. Danail Papazov.
Source: State Gazette (31.01.2002)

The Belgium producer of plain glass Glazerbel intends to make a large investment in Bulgaria, announced the member of the management of the company Mr. Luke Vilan after a meeting with the President of Bulgaria Mr. George Parvanov. The company for glass is the second biggest in Europe. After the meeting became also clear that BIAK company, which deals with attending and maintenance of the security at the airports is interested in the modernization of Varna airport.
Source: Standart (07.02.2002)

Over the first month of the year Lesport port was visited by 12 trade ships with 2250 tons. There were processed 28 000 t general and loose cargos. About half of the cargos that passed over the port - 13 800 t are salt for Varna-based company Kanotrans JSC. Lesport SP JSC is in excellent financial state, according to its Management.
Source: Black sea (07.02.2002)

Varna port takes the transit of rice to Romania and the supply of Bulgaria with this product after signing an annual frame contract for 100 000 t import of rice from China and Egypt. It is expected the first quantities from China to arrive by the end of March. Passing through Bulgaria, not through Romania, 3 days are saved.
Source: Black sea (13.03.2002)

The price for the privatization of the Water Transport Institute is about BGN 300 000. The market value in amount of BGN 250 000 is added to the value of the assets - BGN 50 000 . Only few rooms from both floors of the building which is a property of the Institute is for rent. The amount of BGN 300 000 could not be paid by the employees of the company and there is no other applicant-purchasers of the Institute. In the company was established no MEBO. From 120 employees in the Institute have left only 20.
Source: Black sea (19.03.2002)

Nekton company won the auction for the construction of a wharf for grain which will be constructed in Varna-iztok port. Nekton will use the equipment of the Montana-based company Mir. The new wharf is necessary for the transport of the wheat from Hungary to the East. At the moment the Hungarian grain is transported mainly through the Rumanian port Konstanca. The change of the logistics through Bulgaria will give opportunities for raising of the profits of Bulgarian River Navigation, Bulgarian State Railroads, Varna Port. The construction of the wharf will cost about BGN 500 000.
Source: Pari (30.05.2002)

Four terminals are planned for construction, according to the general plan of Port Varna SP JSC, was announced by the Executive Director of the state-owned company Mr. Danail Papazov. The nearest perspective for the terminal is for dangerous cargo, which will be zero wharf place at the Varna-West port.. The negotiations for its construction together with the two Devnya-based factories Agropolichim and Polimeri are in advanced stage. The fertilizer factory will invest more than USD 8 million. The construction of the wharf will cost to the port about BGN 1 million and will solve the problem with the loading of di-chlorine-ethane and ammonia.
Source: BTA (01.07.2002)

Varna port reported losses of BGN 300 000 because of the USD exchange rate, declared the Executive Director Mr. Danail Papazov. The company also has a profit for the first six months of the year in amount of BGN 524 000. Almost 3 million tons have so far been processed since the beginning of the year.
Source: Standart (15.07.2002)

Competition Protection Commission rejected the request of Nova Plama against the Ministry of Transport. The appeal was because of the limited access of Nova Plama to the port for execution of cargo and loading works of petrol and petrol products in Nothern Bulgaria.
Source: Pari (19.07.2002)

We are ready to sell Varna Port, as long as we receive a fair compensation in return, stated Mr. Mitko Subev, Chairman of the Managing Board of Naftex, without announced the price he expected. He explained that the aim of Petrol is to develop its gas stations, and not to manage ports. We don't want it, it can be given under concession. We don't even insist to be concessionaires, added Mr. Subev. According to the management of Plama, it is illegal for a private company to own a port. According to Bulgaria's constitution, ports are state ownership. The lawyer of the petrol company Mr. Stoyan Krastev explained that there has never been privatization of Varna Port. It is a part of Petrol's assets. By buying the petrol company, we acquired the port as well, said Mr. Krustev. In 1999, 51 per cent of the capital of Petrol were sold for USD 52 million to International Consortium Bulgaria, consisting of Petrol Holding Group, Ucos Petroleum Bulgaria and OMV Bulgaria. In the following years, Ucos Petroleum Bulgaria was transformed into Naftex Bulgaria Holding and acquired the control over Petrol independently and through joint companies. Currently, the major stake of shares from the capital of Petrol (around 90 per cent) is held by Naftex Bulgaria Holding and companies connected with it.
Source: Dnevnik (23.07.2002)

The French industrial company Brosho Industry intends to invest inVarna port. The activity of the company is railroads construction and transport materials . The French company will invest in the automating of the packing of products process . It will import equipment for packing of sugar, wheat and fertilizers in 30-kilogram bags.
Source: Dnevnik (12.08.2002)

Port Varna SP JSC is about to reach its 17-year top result in the end of 2002. The processed cargo is over 6 million tons. This was announced by the company's Executive Director Mr. Danail Papazaov yesterday. 4.1 million tons have been processed in the port since the beginning of the year. This is by 9.4 per cent more compared to the same period of last year.
Source: Black sea (29.08.2002)

The giving under concession of the port activities will start after the preparing of the economic analyses of the independent consultant companies, announced the Deputy Minister of Transport and Communications Mrs. Krasimira Martinova after the Meeting of the Council for Economic Growth of Wednesday. At the meeting were discussed the amendments in the Port Law. The auction for the election of the consultants will be opened by the end of the year. It is not decided yet which port will be given under concession, announced Mrs.Martinova. She explained that the procedure for the election of the consultants will postpone the giving under concession of the ports with at least an year.
Source: Monitor (08.11.2002)

Varna Port JSC expects a profit in amount of BGN 2.16 million, announced the Executive Director of the company Mr. Danail Papazov. The accountant value of the profit is with about BGN 1 million less as compared to 2001 because of the collapse of the currency ratio of USD. During 2002 through the company has passed the record amount of 6.5 million tons of cargo.
Source: Pari (27.12.2002)

USD 3 million own finances will invest during 2003 Varna Port in new equipment and infrastructure, announced the Executive Director of the company Mr. Danail Papazov. The first object, which is the expanding of the port for the needs of the import of grain has been already initiated.
Source: Black sea (02.01.2003)

The final exploitation results of Varna port show that in 2002 were processed 6 509 000 tons cargoes and 5 825 000 tons in 2001. This is a growth with 12 per cent that makes 2002 one of the most successful year for the port during the last 12 years. The boom is at the grain foods. At the second place are the cargoes with sulphur acid - 75 per cent. Varna port SP JSC expects accountant profit for 2002 in amount of BGN 2 159 000. The average salary in the company is BGN 510.
Source: Black sea (15.01.2003)

The Board of Directors of Burgas port decided to provide to the Belgium company for copper Umicor-Pirdop 24th ship place for a period of 3 years. About a month ago the foreign company reported that it would move its activity in Varna port because of not arranged relations with the port in Burgas. Umicor insisted on taking 22th ship place where it has a laboratory. The Executive Director of Burgas port Mr. Borislav Botev explained that this place is strategically situated and can't be engaged for a long time.
Source: Pari (18.02.2003)

For 2002 in Varna port were processed 6.509 million tons that has been a record for 17 years. The profit of the port is BGN 2 241 million. In comparison with 2001 the processing of freights increased with 12 per cent and with 684 000 t more.
Source: Pari (21.02.2003)

Some doubts about a yellow "cousin " scheme, similar to those used in the privatization by the "Kostov" Cabinet, are about to blow up one of the biggest scandals in Bulgarian Sea capital. It is about the Shipyards – one of the most sensitive topics for the Varna population. It should have become the most perfect scheme of the National Movement Simeon the Second (NDSV) about saving an enterprise and its transparent privatization. Varna MPs from NDSV showed strong interest in everything that happens with the Shipyard and its new owner - Navigation Maritime Bulgare (NMB). It is most likely that namely the interest in these enterprises to be one of the reasons for the problems between the Varna MPs and the Transport minister Plamen Petrov. They attack the activities of Petrov and even threaten to impeach him. Besides the Shipyard and NMB the interest of the yellow deputies circle includes a few more big Varna-based companies like Water Supply and Sewerage-Varna, Thermal Power Plant Varna, Port Varna, Electricity Supply, Heat Supply and so on. The main dealers in the scheme are the leader of the Varna group in NDSV – Borislav Ralchev, and his colleagues – Stefan Minkov and Nasko Rafailov. Minkov seems to be most involved in the Shipyard scheme, as his contacts go on two main lines: relatives and classmates from the Varna Navy School. The relative connection starts with the company Stsikoteh – the major sheet iron supplier for the Varna Shipyard. The owner of the company is Ivan Bodev – relative of Minkov. The auditor report of the Varna Shipyard shows serious breaches of this company. Ivan Bodev and Stefan Minkov are bonded through the Hungarian company “Jayden United Corp." as well, the representative of which is Stsikoteh. Jayden United Corp is also represented by Borislav Ivanov Bodev – the son of Ivan Bodev and son-in-law of Stefan Minkov. The interests of the Stefan Minkov circle are found in NMB as well, and particularly in the new appointments in company’s higher management, by classmates for the Navy School. It is about the General Director of NMB captain Geno Genov, one of the NDSV founders in Varna, also the member of the Board of Directors Stefan Buzev, the exploitation director captain Atanas Atanasiv, the brother of captain Genov – Todor Genov – head of the New Ships department, ship supply head Zhivko Nikov, the administrative director Georgi Stoikov and so on. Buzev and Minkov are also former co-workers in the private company Gora JSC. Captain Geno Genov has been sentenced to reimburse the overdrawn currency of about USD 12,000 for “military risk”, when he was the NMB’s representative in Alexandria, Egypt. His brother Todor Genov also occupies a higher position in NMB, working in the Navy development department. The third brother – Vesselin, is the owner of the company Varna Shipping&Trading, dealing in ship hiring and brokerage. The fourth brother Emil is the representative of the SGS control in Varna – the service that forms the cargo claims including the cargoes brokeraged or hired by Vesselin Genov. Recently captain Genov signed with Hamburgische Landesbank on behalf of NMB a credit agreement for USD 23.1 mln. The credit is asked, according to the management, for the faster delivery of the Trapezitsa and Doly ships. Captain Geno Genov: We don’t work with my brother’s company that much - Captain Genov, is it true that NMB works with the companies of your three brothers? What percent of the brokerage services is done by Vesselin Genov and his company "Varna Shipping and Trading "? - No, this is not true, since only one of my brothers has a company. The others are workers in other companies. Concerning the percent of the brokerage services done by "Varna Shipping and Trading", the volume of the shippings made with the mediation of this company, has been dropped in 2002 by 8,5% compared to the previous years, when captain Geno Genov has not been General Director of Navigation Maritime Bulgare.
Source: 24 chasa (17.03.2003)

The ports in Varna, Burgas, Ruse, Lom and Vidin to be managed by one company – this is one of the changes in the Law on Sea Spaces, domestic water ways and ports, which were approved by the Parliament. The new national company Ports will handle the construction, reconstruction and maintenance of ports.
Source: Standart (27.03.2003)

Next week Varna port will receive quality management certificate ISO 9001. The last audit of the certifying organisation CGS has passed without a single reproof and 2 days ago the port was officially informed it would receive the document, announced the Executive Director Mr. Danail Papazov.
Source: Black sea (27.03.2003)

Eng. Kosta Donev is the new manager of the Water Institute SPLtd. The contract of the former Director Mr. Hristo Tanev was not resigned.
Source: Black sea (16.05.2003)

Varna port reports an accounting loss of BGN 500 000 by the middle of May. The negative financial result is because of the decline of USD rate. In the port were taken measures and is expected over the next month the losses to be compensated and the operator would report a profit as of the end of the first six months. 2 550 000 tons cargos have already been processed which is with 400 000 tons more than the same period of 2002 that was the record year for the port.
Source: Black sea (22.05.2003)

After reconsidering the plan of Petrol port, which will be officially announced as exclusive state property, the 3 quays, 8800 sq.m land and a part of a railway line will become part of the port, announced the Chairman of the Supervisory Board of Naftex Mr. Mitko Subev. Petrol will continue to use the petrol base and the railway line near it as its own property. The port will be managed by Port Varna SP JSC.
Source: Pari (13.08.2003)

Electricity Distribution Company Varna is at the first place in this year countdown of the 100 companies of Varna 2002. The countdown was prepared by Apea plan and Aktiv Ltd. The criteria, on which were evaluated the companies are financial results, incomes, efficiency, investments and payments to the National Social Security Institute.
Source: Pari (29.08.2003)

The cargo turnover of seaports in Bulgaria has grown from 16.1 to 20.4 million tons over the period 1999-2002. This was announced by the deputy Prime Minister Mr. Nikolay Vasilev in Varna at an international press conference on Black sea ports and transport. The cargo turnover of river ports has jumped from 2.7 to 3.6 million tons for the same period. Next year, Bulgaria will have a national sea strategy, Mr. Vasilev added.
Source: Standart (30.09.2003)

The big companies like Kremikovtzi, Polimeri, Devnia cement take interest in taking on concessions of quays in Varna and Burgas, announced the Deputy Minister of Transport and Communications Mr. Nikola Yankov. He explained that the interest was not declared in letter of intends. On the contrary to the airports, the seaports in Varna and Burgas probably will be given on concession in accordance with the quay principle, i.e. if I can say at a piece, said Mr. Yankov. According to him, the investors’ interest in the ports depends on the volumes of the cargos. The interest of Kremikovtzi is pointed to Burgas port since there pass about 75 per cent of our turnover, was explained from the metallurgic plant.
Source: Dnevnik (30.09.2003)

58 000t of wheat from Brazil are arriving in port Varna today. The wheat will be used to replenish the warehouses of the State Reserve. Almost 200 000t of the inventories in it were released last year. The same amount has already been negotiated for import. Almost 20 000t of wheat will be imported from Kazakhstan at a price of USD 198 per ton. USA and Canada will import 25 000t of wheat each. The prices of the different shipments vary from USD 180 to USD 210 per ton, including transportation.
Source: Standart (05.01.2004)

Port Varna’s 2003 pre-tax operational profit is around BGN 1.5 million, the company’s Executive Director Mr. Danail Papazov announced. It is expected, however, the end the fiscal period posting an accounting loss. The USD collapse brought around BGN 1.140 million losses to the port. The processed amounts of grain foods and fertilizers have reduced significantly. Port Varna’s 2003 incomes total to some BGN 28.738 million.
Source: Pari (13.01.2004)

Varna port will invest BGN 8 million during 2004, announced the Executive Director of the company Mr. Danail Papazov. Mr. Papazov explained that the investment programme of the company includes construction of a warehouse complex, which will be used for the needs of Agropolichim and purchase of equipment.
Source: Dnevnik (13.01.2004)

Parliament adopted in the second reading the Law on Sea Areas, Domestic Waterways and Ports and decided that the ports in Varna, Bourgas, Rousse, Lom, Vidin would be public transport ports of national significance. The ports will become public state property and some parts and equipment of them may be given under concession to private companies.So far, they were private state property. Only the zones for load storage in the ports of national significance will be privatized. There will be 23 public ports of regional significance, some of them being Fish Port – Bourgas, Odesos – Varna, the oil, gas terminal and Duty Free Zone -Rousse, Sviloza – Svishtov, Belene, Petrol – Somovit, the Ferryboat Complex – Oryahovo , NPP Kozloduy, the ro-ro terminal in Vidin ,and the port in Nikopol.
Source: Pari (11.03.2004)

Privatization Agency announced a procedure for the sale of the Varna-based Water Transport Institute. The institute will be sold at an auction with open bid tender. At the auction will be sold 100 per cent of the capital of the company. The initial price is BGN 120 000 and the step for bidding is BGN 10 000. The deposit for participation in the auction is BGN 50 000.
Source: Black sea (22.03.2004)

Varna Port becomes second city center of Bulgaria’s sea capital, according to a project, developed by local architects. The region around the port will be transformed into a new city with rich infrastructure. There will be hotels and entertainment places in the complex, Arch. Encho Dimov, Director of the Varna-based architects said. He is also one of the authors of the project.
Source: Standart (14.04.2004)

National Social Security Institute published a list of the 20 “most upright employers having staff of over 250 people” for the first quarter of 2004. These 20 companies provide work for a total of 50391 people. The average social security income in these enterprises is BGN 621. 1. NPP KOZLODUY – KOZLODUY 2. LUKOIL NEFTOCHIM BOURGAS – BOURGAS 3. MINES MARITZA-IZTOK SP JSC – BRANCH PIT TROYANOVO-SEVER – village of KOVACHEVO 4. MINES MARITZA-IZTOK SP JSC – BRANCH PIT TROYANOVO – 1 – village of TROYANOVO 5. VIDIMA SEVLIEVO 6. STATE-OWNED COMPANY “AIR TRAFFIC DIRECTION” – SOFIA 7. MOBILTEL – SOFIA 8. TECHNOLOGICAL REGION OF LONG-DISTANCE COMMUNICATIONS “STTS” – SOFIA 9. BLAGOEVGRAD-BT JSC – BLAGOEVGRAD 10. MINES MARITZA-IZTOK JSC – BRANCH GROOVE TROANOVO-3 – village of MEDNIKAROVO 11. BULBANK – SOFIA 12. UNIVERSITY MULTI-PROFILE HOSPITAL FOR ACTIVE TREATMENT “ST. GEORGE” – PLOVDIV 13. TOPLOFIKATZIA SOFIA – SOFIA 14. ELATZITE-MED – village of MIRKOVO 15. STOMANA INDUSTRY – PERNIK 16. VAZOV’S MACHINE PLANTS (VMZ) – SOPOT 17. TPP MARITZA-IZTOK 2 –village of KOVACHEVO 18. BALKANPHARMA-DUPNITZA – DUPNITZA 19. PORT VARNA – VARNA 20. UMICORE MED - PIRDOP
Source: Other (08.06.2004)

The development of a new access system on the territory of Varna port will cost some BGN 250 000. The sum does not include the magnet cards, which will be given to each client, the port’s Director Mr. Danail Papazov, explained. The cards are marking the hour of entry and hour of exiting, the user’s company and location when he/she was on the territory of the port. This measure is expected to reduce the number of robberies, Mr. Papazov added.
Source: Sega (02.07.2004)

For the second year in a row, the electricity distribution company in Varna is leading the Top 100 list of the companies in Varna, the city’s mayor Mr. Kiril Yordanov announced. The second position is held by Petrol Holding, followed by Varna Airport, Oddessos shiprepair plant, the owner of the Piccadili hypermarket chain – Bolyari SP JSC, the construction entrepreneur Planex, Golden Sands JSC, etc.
Source: Pari (12.08.2004)

Bulgaria’s coastal Port of Varna said January-August profit came in at over BGN 1 mln and may well beat the full-year forecast of BGN 1.2 mln. The port has invested over BGN 10 mln over the past couple of years, prioritizing on containerized cargo. The cargo traffic recorded in the first eight months of 2004 totaled 4.730 mln tons, 400,000 tons ahead of the year-ago mark.
Source: Dnevnik (07.09.2004)

The two Black-sea ports of Varna and Bourgas need urgently EUR 10 mln for technical renovation, states a report about the condition of the sea and river business for 2003. The report was prepared by the Bulgarian Association of the ship brokers and agents. The lack of investments in the sea and river ports makes them non-competitive and draws away cargoes to ports in the neighbouring countries. In 2003 the two seaports have handles cargoes of 28 mln tons and their turnover is BGN 250 mln. The delayed privatization and concession procedures also have a negative impact on the private business.
Source: Pari (14.09.2004)

Belgian companies were willing to take part in the privatization of production capacities in the west industrial zone of Varna, the ambassador of Belgium in Bulgaria said at a meeting with the Varna region governor Yani Yanev. The ambassador pointed out that the company Solvay Sodi was interested in the concession of Port Varna. Belgium kept an eye on the development of tourism, decentralization of local authority, cultural exchange and sports.
Source: Sega (17.09.2004)

The first concession procedures for sea coastal and river ports are to be approved by the Government by the end of the year, according to the information of the Ministry of Transport and Communications. The concessions will be given for a 35-years period. The investors will be obliged to expand and modernize the existing equipment ant to operate them. An access charge paid by ships will be introduced for the use of the port infrastructure. Such charges are to be paid for the ports in Varna, Bourgas, Lom, Rousse and Vidin having national significance.
Source: Dnevnik (28.09.2004)

The auction documents for the concession of 4 Bulgarian ports are being prepared now, the head of Port Administration Executive Agency, Captain Peycho Manolov, said yesterday in Varna. Private investments will first enter Lesport – Varna, the dangerous waste wharf in the port of Varna-West, the Somovit terminal in Rousse and the ferryboat terminal in Silistra. The draft-statute of Ports National Company was ready, Cap. Manolov added. Varna Port SPJSC is very likely to be the Black-sea leading port this year, deputy minister of transport Krassimira Martinova said. In her words, by August 31 the company had raised the cargo turnover by 9.6 percent year on year. In 2003 Bourgas Port was the leader. Lesport also reported a significant increase in turnover, Martinova added. Cargoes rose by 29.8 percent as compared to 2003.
Source: Dnevnik (29.10.2004)

The National Social Security Institute (NOI) published a list of Bulgaria's 50 "most correct employers with a staff of over 250 people for the first nine months of 2004, providing work for a total of 98 555 people with an average social security income of BGN 514: 1. Nuclear Power Plant Kozloduy SPJSC - Kozloduy 2. Lukoil-Neftochim JSC - Bourgas 3. Mines Maritsa-Iztok SPJSC - Branch Troyanovo-North Pit, village of Kovachevo 9. Elatsite-Med JSC - village of Mirkovo 14. Thermo-electric power station Maritsa-iztok-2 SPJSC - village of Kovachevo 18. Port Varna 22. Pirintex Production - Gotze Delchev 24.SKGT Electrotransport, Sofia 25. Solvay Sodi - Devnya 36. Water Supply and Sewerage, Varna 39. Remotex SPJSC - Radnevo 44. Arkus - Lyaskovetz
Source: Capital market (08.11.2004)

Varna Port expects to reach record volumes of cargo shipments by the end of this year. The port forecast volumes would hit 7 mln t, which is a record in the company’s history.
Source: Monitor (17.11.2004)

The industrial ports Lesport – Varna, Somovit port and the dangerous cargo terminal in the Varna-West port will be given on a concession, the Deputy PM Mr. Nikolay Vasilev announced. The concession proposal has been put forward in the Council of Ministers, and the maximum concession term is 35 years.
Source: Sega (08.12.2004)

Port Varna reported a record-high 7 mln t cargo turnover for 2004, Bulgaria’s deputy prime minister and minister of economy Mr. Nikolay Vasilev announced yesterday. According to him, the ongoing stage in the construction of the new loose cargo terminal in Port Bourgas will be completed ahead of schedule in June 2005.
Source: Pari (15.12.2004)

Bulgaria's Varna port expects to net a BGN 1.5 million profit for 2004. By November, the company's profit stands at BGN 1.342 million. The results of the state-owned company were presented during vice premier and transport minister Nikolay Vassilev's visit to Varna Wednesday. For the year-ago period, the Varna port posted a BGN 879,000 loss, due to exchange rate differences resulting from long dollar positions. Currently payments are made mainly in euro. This year the Varna port will post record high cargo traffic of some 7.3 million tonnes. The rise is mainly due to increased transit traffic. There is also a substantial surge in the number of containers handled at the port. Also Wednesday, vice premier Vassilev visited the Bourgas port. The reconstruction and extension of the port will not be delayed, he said. The bulk loads terminal will be ready by the middle of 2005. As much as USD 63 million has been absorbed so far. The Japanese Bank for International Cooperation provides USD 118 million for the project. Budget financing for the project stands at USD 23 million, another BGN 20 million will be provided next year.
Source: Pari (16.12.2004)

The first ports to be offered on a concession basis will be Lesport of Varna and Somovit of Rousse, the Bulgarian government decided Thursday. A total of 23 ports and separate wharves are slated for concession. The legal analyses of Lesport at the Black Sea and Somovit at the Danube are ready and the procedures can be opened immediately. Most of the ports in Bulgaria need technical renovation and infrastructure improvements. Vice premier Nikolay Vassilev believes that most of the investments in transport infrastructure will come from public-private partnerships. The business also supports the fast concessioning of the ports, saying that any delay will affect both navigation and the private business. The next ports that are expected to be approved for concession are the new terminal for hazardous freight at Varna-West, the port in Balchik and the ferry line between Silistra and Calarasi. The concession on Lesport will have a term of 30 years. The Varna-West terminal, which has to be built by the concessionaire, will be granted for 35 years.
Source: Pari (14.01.2005)

The concessioner of the Varna port will construct a terminal for liquid dangerous cargo as a part of the port, the Cabinet decided. The greenfield concessioner will be elected through competition. It will construct the terminal using own funds and will have the right to exploit it for a period of 35 years. The minimum investments for the first three years should be in the amount of BGN 16 mln. The candidates should have assets worth at least BGN 10 mln and revenues of at least BGN 50 mln within the past two years.
Source: Sega (04.02.2005)

NSSI announced the top 20 most loyal employers with a personnel of over 1000 people for 2004, insuring a total of 104 959 men with an average insuring income of BGN 545: The company is included in the list.
Source: Other (08.02.2005)

Bulgaria's Black Sea port of Varna is awaiting licensing to handle cargo containerised in accordance with U.S. standards, executive director Danail Papazov told Dnevnik. The port processed 78,450 TEUs in '04, up 20% y/y. If cargo traffic exceeds 100,000 TEUs, the U.S. Customs and Border Protection administration will likely co-operate with the Varna port on the construction of a warehouse for initial processing of containerised cargo. A similar project could be implemented also with the Bourgas port further down south.
Source: Dnevnik (21.02.2005)

Bulgaria's transport ministry opened a procedure to grant a 30-year concession on the river port of Somovit and Lesport at the Black Sea. Somovit is an industrial port managed by the national port of Rousse. Lesport was built as a cargo facility at the port of Varna and used mainly for timber handling. The concession will be granted by remote tender. The deadline for purchase of documents is March 18. Candidates will be ranked according to their proposals for commission fee, investment programme and turnover indicators.
Source: Pari (02.03.2005)

Somovit and Lesport have been presented in the Transport Ministry by the end term which was yesterday. Among the candidates for the first port terminal is Kosmos Shipping – Varna.
Source: Standart (23.03.2005)

By the end of the year, an international tender for the development of a technical project for the building of a passenger terminal at Varna port will be announced, the CEO of National company Ports Captain Peycho Manolov said. The tender procedure will be completed within a year. Following the development of the Varna project, another two projects will be announced – for technical projects of passenger terminals in Bourgas and Rousse, Mr. Manolov added.
Source: Dnevnik (13.04.2005)

Varna port signed a contract for supply of mobile crane Demag Gottwald, port’s CEO Mr. Danail Papazov announced. The crane weights 104.3 t and is the first one, which the company has bought since 1981. The ministry of transport and communication has approved the deal.
Source: Dnevnik (14.04.2005)

The blueprint for the development of the port of Varna, on the Black Sea, envisages the construction of 4 new terminals and the upgrade of another 2. The document will be coordinated with an interdepartmental committee and some 20 state-owned and private companies. Two docking berths will be added to the terminal for containerised cargo of the Varna-West port, boosting traffic capacity to 120,000 TEU annually. Lesport, also part of the Varna port, will be expanded and signed over for operation under a concession arrangement.
Source: Dnevnik (26.04.2005)

Bulgaria's state-owned transport companies posted a BGN 5.6 million net profit for the first quarter of 2005, vice premier and transport minister Nikolay Vassilev said. The profit of Navigation Maritime Bulgare jumped by 46%, year on year. Bulgarian Posts also registered a rise in income by more than 150%. Lesport of Rousse increased its profit by 113%. The airports in Sofia and Bourgas and the ports of Rousse and Varna also posted higher profits for the period.
Source: Pari (09.05.2005)

The National Social Security Institute announced the 50 most loyal employers for the first quarter of 2005 with personnel of over 1000 people, insuring totally 106 811 people with an average insurance income of BGN 561. The company is included in the list.
Source: Other (09.05.2005)

The port of Antwerp is interested in bidding for the contract to run containerised cargo terminal Varna-West, part of Bulgaria's Varna Black Sea port, under a concession arrangement, said the Belgian ambassador to Bulgaria during a business climate discussion in Varna. The Varna-West concession procedure is on the radar screen of the Belgian parent of Devnya-based soda ash maker Solvay Sodi which owns a quay facility on the terminal. The 1.7 mln tons of calcinated lime that Solvay Sodi ships from Varna-West accounts for 1/3 of the terminal's annual cargo traffic.
Source: Dnevnik (08.06.2005)

Yesterday, the Varna Business Academy, which was established about two months ago, announced its nominations for manager of the year. The nominees are the manager of Intercom Group Mr. Pavlin Nikolov, the manager of the building company Planex Holding Mr. Plamen Andreev, the CEO of Port Varna Mr. Danail Papazov, and the CEO of TUI Bulgaria Mr. Valentin Yosifov.
Source: Monitor (30.06.2005)

Swedish businessman, Jan Lindeberg, will invest BGN 30 million in an enterprise for production of construction materials near Pleven (northern Bulgaria). The new factory will be located on an area of 4.5 ha in proximity to the Somovit port on the Danube river. Production will begin within a year and will provide jobs to 250 people. The enterprise will manufacture different types of construction and insulation materials, destined mainly to the European market. They will be produced under a modern technology patented by Lindeberg's NPS, a Sweden-registered company. Jan Lindeberg is owner of four similar plants in China, Chile, India and Ukraine. Some 40 employees will be trained in Sweden and will teach the remaining 210 workers. The enterprise in Bulgaria will work 300 days a year, in three shifts, at 75% of capacity. The investment will be returned in about two years, the businessman said.
Source: Pari (01.07.2005)

The construction entrepreneur, manager of Planex-Varna LTD and president of the Construction Association in Varna- Mr. Plamen Andreev, was chosen by the Varna Business Academy for manager of the year of 2004. The other nominated in the same category were Mr. MPAvlin Nikolov- manager of Intercom Group LTD, Danail Papazov- executive director of Port Varna JSC, and Valentin Josifov- executive director of Tui Bulgaria (Travel Partner Bulgaria) LTD. The award for business innovation of the year went to Eldominvest LTD.
Source: Construction City (12.07.2005)

The 2005’s first half top 50 most law-abiding employers with a personnel of over 1000 people, insuring a total of 106,852 employees with an average insurance income of BGN 592. The company is included in the list. 1. Nuclear Power Plant Kozloduy SPJSC - Kozloduy 9 Ideal Standard Bulgaria JSC - Sevlievo 13 Bulgarian Telecommunication Company JSC - Sofia 26 Asarel Medet JSC - Panagyurishte
Source: Other (08.08.2005)

Today, 'Stanishev' cabinet is going to vote at its first sitting the opening of the procedure for the concession for 'Rousse-West' and part of 'Varna-East' ports. The draft resolutions were introduced by former Minister of Transport Nikolay Vassilev, but they will also be backed by the new Minister of Transport Peter Mutafchiev. "The solution of the problems connected with the concessions for Varna and Bourgas airports are among my priorities," Minister Mutafchiev stated. He also said he was all for the acceleration of the procedure for the privatization of 'Bulgaria Air' airlines. 'The most urgent issue now is the restoration of the railway infrastructure badly damaged by the torrential rains in Bulgaria," Mutafchiev underlined.
Source: Standart (18.08.2005)

Port Balchik of Dobrich and Chimimport Balchik of Sofia will compete for the concession on Bulgaria's port terminal of Balchik, the transport ministry said. The terminal is part of the public transport port of Varna. The term of the concession will be 25 years. The two companies were admitted to participation in the tender on July 29, 2005. After reviewing the offers, the tender commission will rank the candidates within a week. Then transport minister Petar Mutafchiev will submit the proposal for approval to the council of ministers. Before that the government is expected to approve the concessionaire of the Svishtov port on the Danube, where three candidates are bidding for the contract: Dragazhen Flot Istar of Svishtov, Slanchev Dar of Varna and Interport of Sofia. Concessionaires have been so far chosen for Lesport in Varna (BM Port) and for Somovit near Rousse (Oktopod-S). Concession procedures are under way for the terminals of Oryahovo and Vidin Centre.
Source: Pari (15.09.2005)

The general blueprint for the redevelopment of the Varna-East merchant port, on the Black Sea, into a tourism and entertainment area will be oked by an interdepartmental commission within a month, said Peicho Manolov, director of the Varna port authority. The project envisages the construction of a passenger and a multi-purpose terminal, a yacht marina, a business center, hotels and eateries. Foreign investors have already shown interest in the project which ensures that the necessary financing will be made available, said Manolov.
Source: Dnevnik (13.10.2005)

BGN 15 mln will be invested in port Varna in 2006. This is almost double the amount invested in the port this year. Overt the next five years, another EUR 150 mln will be necessary for the building of a new container terminal, as well as for the moving of the existing grain terminal.
Source: Standart (20.10.2005)

Two projects for lifting of high-voltage cables above the channel “sea-lake”are currently discussed in Port Varna SPJSC, the CEO, Mr. Danail Papazov announced. Thus, one of the limits for big ships acceptance and work in Port Varna - West, will be eliminated. According to Mr. Papazov, if the cables were lifted up, all the ships, which currently pass though Bosporus, would be able to stop in Port Varna.
Source: Dnevnik (20.10.2005)

Nobody wants to concession Varna-West port, the press service of the Council of Ministers said yesterday. Therefore, the Cabinet intends to terminate the concessioning procedure. This would have been the first local project for a “greenfield” port, because according to the procedure, the concessionaire was supposed to use their own funds to build quays and to operate them for 35 years. The minimum required investment was in the amount of BGN 16 mln.
Source: Sega (21.10.2005)

The Bulgarian Association of Ship Brokers & Agents warned a year ago, that urgent measures have to be taken for technological renewing and modernization of Varna and Bourgas’ infrastructure. Otherwise, a big part of the lade-flow through the Bulgarian ports will be re-oriented toward the Greek port of Thessaloniki. To some extent, this impacted the policy of the ex-government, which ratified some changes in the Marine Space Act, as to allow the ports’ concessioning.
Source: Pari (27.10.2005)

By an order of the transport minister Mr. Peter Mutafchiev the members of the Boards of Directors of Navigation Maritime Bulgare, Varna Airport, and Port Varna were shifted. The CEOs of the three companies will keep their positions.
Source: Darik Radio (01.11.2005)

Bulgaria's port of Varna, on the Black Sea, has budgeted 15 mln levs for the purchase next year of a traveling and a floating crane. The port spent 8 mln levs on new equipment this year. The new cranes, designated for the Varna-West and Varna-East terminals, are expected to boost cargo traffic by 50% and halve the port call of vessels carrying containerised cargo.
Source: Dnevnik (23.11.2005)

The National Social Security Institute's Top 50 of the most law-abiding employers with personnel of over 1000 employees, insuring a total of 112 403 people with average insurance income of BGN 599 during January-September 2005. The company is included in the list: 1. Nuclear Power Plant Kozloduy SPJSC - Kozloduy 13 Bulgarian Telecommunication Company JSC - Sofia 29 Asarel Medet JSC - Panagyurishte 35. Ideal Standard Bulgaria JSC - Sevlievo
Source: Other (24.11.2005)

The port of Varna, on the Black Sea, has proposed to build a new terminal for containerised cargo that will converge in one location all current reloading facilities. Major banks have shown interest in financing the project which would require around USD100 mln, including equipment costs, said the port's executive director Danail Papazov. The initiative is backed by the Bulgarian Association of Ship Brokers and Agents. The port currently has 2 cargo terminals, Varna East and Varna West. Cargo traffic via the Varna port is expected to increase by 20 percent to 100,000 TEU in 2005.
Source: Dnevnik (02.12.2005)

Bulgarian Association of Ship Brokers and Agents (BASBA) launched the idea of construction of a new container terminal in Varna's lake that is to replace the existing two terminals Varna-East and Varna-West, reads an open letter of the association addressed to the transport minister and the respective parliamentary committee. The idea was presented by the chairman of Varna port Ltd., Danail Papazov. Several banks have already show interest in the financing of the project, BASBA reported. Over the period between 2000 and 2004, the annual increase in the container transportation segment for Varna came to 20 percent, BASBA added, pointing out that for the all other Black Sea ports the rate was 36 percent.
Source: Pari (06.12.2005)

The Thermal Power Plant (TPP) Varna’s deal will not finish till New Year, Mr. Todor Nokolov, CEO of Bulgaria’s Privatization Agency, said. The difficulties are connected with conditions of the competence of the State Commission for Energy and Water Regulation (SCEWR) and the Ministry of Environment and Water of Bulgaria. However, the Russian bidder agreed that port Varna as a part of TPP Varna’s assets would not be sold and would remain public state property. In 2006, the companies from the prohibited list will be announced and offered for privatization. In the words of Mr. Nikolov the first ones will be water supply and sewerage network companies, as well as some water power plants.
Source: Monitor (09.12.2005)

Varna Port will have invested more than BGN 5.0 million in technical upgrade by the end of the year. The funds will be allocated to programmes for efficient servicing of the increased volume of cargo transportation. Yesterday the port received a new BGN 820,000 mobile machine for handling containers' cargoes bought from the Swedish KALMAR. In a week's time the port will receive two container towers for BGN 552,000. In 2005, the company will also buy a new mobile crane for BGN 2.2 million.
Source: Pari (09.12.2005)

The handling capacity of the containerised cargo terminal Varna-West, part of Bulgaria's Varna Black Sea port, will be expanded in 2006 to the tune of 1 mln levs, said Danail Papazov, executive director of the port. The investment program of the port for 2006 also envisages the purchase of one mobile and one floating crane with a combined price tag of around 5.5 mln euro. The new equipment is expected to increase the port's containerised cargo handling capacity by 50%. The aim is to improve the capacity of the containerised cargo terminal from the current 25-27 movements per hour to at least 30, reducing twofold the layover of the cargo vessels. Varna will become the first domestic port to switch to a system for electronic processing of the shipment documents of containerised cargo. The necessary software will be developed within the next 6 months. The port announced it will hike by 5% the handling charges effective from January 1, 2006. Cargo traffic via the port of Varna touched a fresh high in 2005, rising 14.6% year-on-year to some 8.5 mln tons. Revenues are up 20% to 40 mln levs. Net profit is seen at around 2 mln levs.(
Source: Dnevnik (30.12.2005)

Bulgaria's Varna port will post a BGN 2 million net profit for 2005, up by 35% year on year, CEO Daniel Papazov said. Income will rise by 18-20% to nearly BGN 40 million. By the end of 2005 the cargo handled at the port will reach 8.5 million tonnes, up by 14.6% compared with 2004. Transit cargo registered a considerable rise in 2005, reaching 400,000 tonnes from almost nil in 2003. The port handles mainly lead concentrate and commodities as transit cargo from West Europe to the Asian republics. Varna port's services will appreciate by some 5% in 2006, Papazov said. The new tariff has been already announced and contracts are being closed accordingly. Only some 5% of the regular clients have not yet renewed their contracts. However Varna port's fees remain more attractive than those of neighbouring ports, Papazov added. The port will invest some BGN 18 million in new equipment in 2006. As much as EUR 3 million will be used for the purchase of a floating platform, which will facilitate container handling.
Source: Pari (30.12.2005)

Some BGN17 mln will be spent on the renovation and rehabilitation of port facilities in 2006, said Bulgarian Ports Authority executive director Peicho Manolov. The development program envisages dredging of the Bourgas port canal and repairs at the breakwater of the Varna and Balchik ports, on the Black Sea, and the wharf of the Lom port, on the Danube.
Source: Dnevnik (12.01.2006)

Varna Port reported a net profit of BGN 2 mln for 2005, or 35% premium y/y, the company’s CEO, Mr. Daniel Papazov announced. The revenues are some BGN 40 mln, which is between 18% and 20% more, as compared to 2004. Till the end of the year, the served cargos at the port shall reach 8,5 mln t or 14,6% more versus last year. A serious growth in 2005 reported the transit cargos. In 2005, the company served 400 000 t of goods purposed for third countries, while in 2003, no transit cargos were made.
Source: Pari (28.01.2006)

The companies in the Port Varna-West industrial cluster have earmarked a total of BGN 970 mln for investment spending over the next 4 years, it emerged after corporate executives met with prime minister Sergei Stanishev in Devnya. The companies in the cluster reiterated their interest in the award of a concession contract for the multi-purpose terminal of Varna-West, part of Bulgaria's Varna Black Sea port. The cluster was established in July 2005 by the biggest cargo port users: soda ash maker Solvay-Sodi JSC, cement mill Devnya Cement, copper smelter Cumerio and mining and processing company Kaolin. Fertiliser maker Agropolychim is expected to join the cluster within weeks. The main goal of the cluster is to compete for the Varna-West concession. The members of the cluster currently generate 85% of the cargo traffic passing via the Varna port. The Varna-West port has 3 terminals: for hazardous and containerised cargo and one multi-purpose section. The concession procedure for the multi-purpose terminal is expected to be launched shortly.
Source: Dnevnik (20.02.2006)

The port of Bulgaria's Varna-based Marine Antipollution Enterprise, which is part of the Prista Oil group, already offers facilities for complex cargo handling. This concerns hatch covers manufactured by the local shipyard. The port is one of the few places in Varna that allow special cargo processing, company CEO Anton Manolov said. The port is specialised in handling various types of cargo, including containers, and has capacity for 250,000 tonnes of loads a month.
Source: Pari (27.03.2006)

Bulgaria's transport ministry will fast-track the concession procedure for Black Sea port Rosenets, the port terminal of the Varna thermal power plant and the Petrol Varna terminal. said Port Authority Executive Agency director Peicho Manolov. Bulgaria's Privatisation Agency signed last week a sale contract for the Varna TPP with Czech utility company CEZ. The buyer is ready to pay for the use of the terminal and has so far not shown interest in the concession procedure. The concession procedures for the 3 terminals of the Varna-West port will likely be organised on a competitive basis, said Manolov. The Varna-West port will have terminals for hazardous and containerised cargo as well as one multifunctional terminal. The procedure for a greenfield investment in the hazardous cargo terminal launched last year failed to attract candidates. Ammonia ash maker Solvay Sodi, cement mill Devnya Tsiment, smelter Cumerio Med and mining company Kaolin recently formed a cluster for the purposes of the Varna-West concession procedure. The members of the cluster operate quay berths at the port and generate 70% of its cargo traffic. They have pledged to invest 970 mln levs in the facility over the next 5 years.
Source: Dnevnik (28.04.2006)

The consortium of France's Sofrelog and Greece's Marac Electronics will install 7 radars along the Bulgarian Black Sea coast by Sept '07. The contract is part of the second phase of the deployment of the border-to-border vessel traffic management and information system. Two of the radars will be installed in Burgas while the rest will be positioned in the Varna coastal area.
Source: Dnevnik (19.07.2006)

The Port of Varna will leave behind its biggest competitor the Romanian port of Constanta and will rank next to the second biggest port in Europe - the Port of Hamburg. This conclusion was reached by the participants in the public discussion about the future of the port organized by the Standart Daily. The reconstruction of the Bulgarian port will start as yearly as next year, reads the national program for the development of Bulgarian ports for the period 2006-2015, prepared by Bulgaria's Ministry of Transport. The Port of Varna will start servicing 250 thousand tourists per year in the not too distant future.
Source: Standart (15.08.2006)

Port Varna changes its location Port Varna has to be moved to the protected area Kazashko. This was decided at the Varna Municipality at a discussion about city’s development plan. Varna district director Mr. Petar Kandilarov set a one-week period to the municipality authorities to provide their vision about this plan. Another possibility is Port Varna to be moved to the Port Lesport area. Though experts believe that this is not a good solution because a lot of funds should be invested in order to deepen the canal there and for the nationalizing of private properties at the site. Minister Petar Mutafchiev also agreed with the idea within the next 2 years the Port to be moved. Anyway rumors say that this is not such an important topic but now it is introduced as an important one in order to turn away the attention over the contestation at the Constitutional Court of the state-owned Ports National Company.
Source: Pari (27.11.2006)

The tract of land that will be vacated after the relocation of the Varna-East port, on the Black Sea, will be developed into a yacht dock and a passenger terminal, said port executive director Danail Papazov. At present, the port of Varna is divided into Varna East and Varna West. The idea is to move Varna East from its current location in the Bay of Varna, just 1 km away from the center of the city, further inland to the banks of the Varna and Beloslav lakes which are connected to the sea by two canals. Varna West is located 30 km west of the city, on the western banks of lake Beloslav. The construction of the yacht marina, passenger terminal and adjacent entertainment and leisure venues will be implemented under a concession arrangement. The relocation of Varna East will cost EUR 400 mln. The price tag includes the EUR 100 mln cost of new grain and containerised cargo terminals which will be operated under a concession arrangement. The concession procedure is likely to begin in mid-2007 after the masterplan for the development of the ports is ready.
Source: Dnevnik (06.12.2006)

The setting up of a new container terminal in Varna will cost some EUR 40 million. Representatives of the local government, MPs and experts discussed the options for the replacement of the existing port. If the port is not relocated by the end of 2006, the cargo transit may shift completely to the Romania's Constanta port, experts say. The Varna port currently incurs huge losses due to the lack of a container terminal. The new port may be located either in the vicinity of the old railway station or on the north bank of the Varna lake.
Source: Pari (06.12.2006)

Development plan for Port Varna will be approved until March 2007 A balanced plan how Port Varna East should be transferred to another site without abusing European ecological programmes must be figured out. After a discussion with the Minister of Environment and Waters – Dzhevdzhet Chakarov, the Minister of Transport is sure that such decision will be made soon. Mr. Mutafchiev believes that within the first quarter of 2007the major plan for Port Varna will be ready. When this is all set a concession procedure for the Port will be organized.
Source: Darik Radio (07.12.2006)

5 contenders for Port Varna Five companies – Sodi Devnya, Cumerio Med, Agropolihim and Devnya Cement take part in the concession procedure of Port Varna – West, but the Government is still delaying its final decision. Companies that perform 8-9% of the total Bulgarian export do 90% of their business through Port Varna – West and they are ready to invest in the facility that operates freights valued EUR 300 mln. per annum. The investment decision of all companies which take part in the Industrial cluster, formed for the concession of the port, depends much on the clarifying of all questions concerning the future concession. The investors rely on Prince Philip’s lobism in favor of the Industrial cluster.
Source: Monitor (13.12.2006)

Almost BGN 13 mln to be invested in Port Varna Almost BGN 13 mln are planned to be invested over the next year for renovation and improvements at Port Varna facilities, said the executive director Mr. Danail Papazov. At mid-2007 at Port Varna-West’s first ship space a new terminal phosphorus will be build. The Port is planning to invest almost BGN 5 mln in it and it is expected that it will be raedy for use at the end of 2008. Another BGN 800 000 will be invested in a dust cleaner at the soda terminal. Those two projects are expected to improve the environmental protection at the area, said Papazov. Another BGN 5 mln will be invested for the purchase of two new mobile lading cranes with a maximum load power of 140 tons. For the realization of the whole investment plan the company will have to take a bank loan or sign leasing contracts.
Source: Darik Radio (22.12.2006)

Varna port to spend 13 mln levs on investment in '07 Bulgaria's port of Varna, on the Black Sea, has earmarked 13 mln levs for investment spending in 2007, said harbour executive director Danail Papazov. The biggest purchase of equipment will be a 5.5 mln lev mobile crane. The new 140 ton crane capacity will be added to the 104. 3 ton Demag crane that is in operation, almost halving the layover time for containerised cargo. The new crane will handle exclusively British Petroleum transit shipments. The oil company is using the port of Varna as a distribution center for projects in the Caspian Sea. The port is expected to reach a containerised cargo traffic of 93,000 TEU by the end of 2006 and should cross the 100,000 TEU mark next year, rising to the ranks of major regional containerised cargo hubs like Constanta in Romania and Odessa in the Ukraine. The list of investment projects includes also the construction of a new phosphorite silo. The project should be implemented in 12 to 18 months at a cost of 5 mln levs. The port also intends to spend 0.8 mln levs on a deduster for cargo containing bulk soda. The port should finish 2006 with a net profit of 2.12 mln levs, said Papazov. Overall cargo traffic is seen down 0.4 mln tons year-on-year to 8 mln tons. The decline is attributed to the rerouting of copper concentrate shipments for local smelter Cumerio Med via the Burgas port further south.
Source: Dnevnik (27.12.2006)

The fishing port of Bourgas will no longer service ships sailing under Libyan flag. The measure is adopted to show disagreement with the death sentences of five Bulgarian medical nurses and a Palestinian doctor in the African country. The decision will remain effective until the medics receive a just sentence, the initiators explained. The port's refusal to service Libyan ships is not directed against the ordinary citizens of the African country. The manager of Bourgas's fishing port, Stoyan Momchev, called on other Bulgarian ports to join the initiative.
Source: Pari (28.12.2006)

Chimimport acquired 99% in Varna-based BM Port. Chimimport plans to invest more than EUR 100 million in the modernisation of the Lesprom terminal, which is part of the the strategic Varna port. BM Port will be operating the terminal in the next 35 years under a concession contract. Chimimport became one of the most attractive companies to investors after going public in November 2006. The company posted BGN 23,467,000 net profit for the first nine months of 2006. A total of 28,437 shares in Chimimport were traded on Friday. The stock price of the company rose by 1.22% to BGN 8.31 per share.
Source: Pari (15.01.2007)

The Japan Bank for International Co-operation (JBIC) will provide over EUR 175 mln for the construction of containerised cargo terminals at Bulgarian Black Sea ports Varna and Burgas, said the Bulgarian transport ministry. The final decision on the disbursement will be taken by a JBIC managing board in September 2007. The transport ministry said the drafting of an environmental impact assessment will be crucial for the launch financing procedure. The Varna component of the project will cost over EUR 90 mln. Some EUR 15 mln of the loan-financing will be spent on advisory services. The transport ministry said no EU financing will be solicited for the project which is an integral part of the strategy for the development of intermodal transportation in Bulgaria.
Source: Dnevnik (27.02.2007)

Bulgaria may seek a strategic investor for the reconstruction of Black Sea port Varna, deputy transport minister Ucel Atila said on Monday, March 5. One of the options for the solicitation of private investment is the creation of a project company that will operate the port under a concession arrangement after the modernisation is completed. The finance ministry is reportedly drafting legislative changes that will allow state-owned joint stock company Varna Port and state-owned company Port Infrastructure to team up with a private outfit for the port reconstruction project.
Source: Dnevnik (06.03.2007)

A new container terminal will be built in Bulgaria's largest Black Sea port of Varna. It will be located at the northern bank of the Varna Lake, Transport Minister Peter Mutafchiev said yesterday. By end-March Bulgaria will apply for a USD 100,000-million loan from the Reconstruction and Development Bank of Japan. The overall cost of the project for moving the port of Varna and building a zone of attraction for tourists in its place will be over EUR 500 million. Thus, Bulgaria's Black Sea capital will be converted into a city similar to Barcelona, a super modern recreation center, explained chief of the city council Borislav Gutsanov. Apart from a fund-raising program, Bulgaria has started to seek world's architects for the project, he added. Bulgaria has to start port's dislocation before the end of 2007, because the country is losing positions on the market, said port's director Danail Paparizov. Bulgaria's main rival, the Romanian port of Constanta, processes 1.1 million tons of goods a year, whereas Varna manages only 1.1 million tons. Eight years ago these ports used to have equal goods turnover.
Source: Standart (20.03.2007)

The container terminal at Varna port will be realized instead of Cherno More highway, the state cannot finance both projects, commented the minister of transport Peter Mutafchiev. A special discussion was held in Varna on the subject. Varna port will have to be moved to another location further in Varna lake, and the terminal to be built near Maxuda neibhrouhood. The master plan for development of Varna port is to be approved, it will be followed by an appraisal of the environmental impact assessment. Funding is expected from the Japanese Bank for Reconstruction and Development, the loan amount has not been commented. The terminal needs at least 800 m, the construction works are to start by the year end. The Romanian Constanta port handles about 12 times more containers compared to Varna, ten years ago they had the same results. This exact location could involve problems about the building of the second bridge over the canal. Maxuda neighbourhood is at 10 minutes from Varna downtown, its population is mainly from the Gipsy minority which will be resettled to the village of Kamenar. According to the valid legislation the plot is for an urban park and first its statute will have to be changed. The location of Varna East port will amount to about EUR 1m.
Source: Construction City (26.03.2007)

Coeclerici, the Italian logistics and shipping company, said it is seeking a strategic partner for the construction of a floating terminal that will facilitate off-shore handling of the cargo traffic via Bulgarian Black Sea port Varna. The USD 21 facility could be in place within 11 months if a suitable partner is found. The Italian company operates the Bulk Kremi 1 floating transfer station at the local Burgas port, a joint venture with steel mill Kremikovtzi.
Source: Dnevnik (28.03.2007)

Djevdet Chakarov, minister of environment and water, has ordered an environmental impact assessment of the region near the Varna and Beloslav lakes, where the Varna port will be relocated. The Varna municipal council tried to launch the project for the relocation of the Varna port without having conducted such assessment as the Pari daily wrote six months ago. The council used old EIA results, in order to start the project as soon as possible, according to Pari daily's sources. The architectural committee at the Varna municipal council decided in the end of 2006 to relocate the Varna port at the Maksuda area. The move is aimed at the expansion of the port and the construction of two container terminals. Chakarov's order will delay the implementation of the project but will show whether the new place is suitable for the relocation of the port.
Source: Pari (07.06.2007)

H1 cargo traffic via the Black Sea port of Varna fell 0.5 mln tons short of the year-ago mark due to the total lack of any grain shipments, said the harbor's executive director Danail Papzov. The port official said the volume of all other cargo categories was either flat or slightly higher y/y. The parity between domestic and international grain prices are currently dissuading Bulgarian exporters.
Source: Dnevnik (04.07.2007)

Bulgaria's transport ministry is still considering where to build a container terminal: in Varna or in Bourgas. Initially the facility was planned to be built in the region of the port of Varna, after the latter is relocated. According to Pari daily's sources, however, the authorities are now more inclined to make the terminal in Bourgas and then in Varna. Bulgaria is in negotiations with the Japanese government over a EUR 180 million loan for two container terminals. Consultants of the Japanese Bank for International Development, which finances the extension of the Bourgas port, have started looking for the best location for such a facility. Experts say that Bourgas is more suitable for that. According to insiders, the fight between sea businesses in the two cities to convince the Japanese in their advantages has already started.
Source: Pari (06.07.2007)

The project for the relocation of the containerised cargo terminal of Bulgarian Black Sea port Varna will begin towards the end of 2007, said Borislav Gutsanov, chairman of the municipal council. The current terminal site will be remodelled into an amusement zone with a yacht marina to the tune of some EUR 500 mln. The assessment of the environmental impact of the terminal project should be completed within 45 days as a necessary step towards the launch of the undertaking. The cost of the new facility is seen at EUR 100 mln. It should be handed over 36 months after the start of construction. Although the investment will not be recouped for a decade, the attendant benefits for the Varna economy will be significant, said Varna harbor executive director Danail Papazov. The negotiations to secure financing for the project will get underway in September.
Source: Dnevnik (19.07.2007)

Bulgarian shipping company Navigation Maritime Bulgare (NMB) ordered to Bulyard Shipbuilding Company three new vessels. The contract will be signed today in Varna in the presence of PM Sergey Stanishev. Bulgaria's Economy Minister Petar Dimitrov and Transport Minister, Petar Mutafchiev will also attend the ceremony. Varna's Naval Administration will acquire high-speed vessels in the coming months. The new cutter Parker 9000 Baltic was already launched at Varna port. She can reach a speed of 36 knots or 70 km/h. NMB will receive other five vessels of the same kind; two will be bigger. The price of the vessels for rescue operations in emergency situations in the open sea is 1,8 million Euro," said Nikolay Apostolov, head of Naval Administration.
Source: Standart (16.08.2007)

Sofia Airport is working and no flights have been cancelled. Plovdiv Airport is also working. The weather permits aircraft to land and take off. The airports in the seaside cities of Varna and Burgas have been closed due to fog, the press center of the Transport Ministry announced. The Port of Varna was closed at 22.00 on Monday due to dense fog. The Port of Burgas is open. The port complex in the northern town of Ruse, ferryboat Vidin-Calafat and the Port of Vidin are working in winter conditions. So are the ports in the northern towns of Lom, Oryahovo, Somovit, Svishtov and Silistra.
Source: Agency Focus (16.01.2008)

A special entry point at the Varna-West port will soon be designated for incoming containerised cargo trucks , said port executive director Danail Papazov. The port will also add a new center for the computerised processing of containerised cargo that will employ a company-developed software. The platform will enable shipment tracking in real time as well as online connection between the port, the forwarders, the customs and border control administrations and the container operators.
Source: Dnevnik (22.01.2008)

Profits at state-owned maritime carrier NMB rose by 16.3 mln to 35.1 mln levs in 2007, the Bulgarian transport ministry said on Monday. The company is currently undergoing a privatisation procedure. The state-owned airports made a profit of 21 mln levs last year, said the ministry. The Sofia International Airport was the top-performer with a profit of 20.7 mln levs. However, that represents a 8.6% fall on 2006. In contrast to the state airports, the sea ports in Varna and Burgas recorded a 10% drop in revenue on a weaker traffic of grain shipments. The Danube ports in Ruse, Vidin and Lom all turned in a profit in 2007. Property disposals enabled national railway carrier BDZ to record a profit of 10 mln levs last year despite a 4.8% decline in cargo traffic, said the transport ministry. Passenger numbers are also down on 2006. The loss at the National Railway Infrastructure Company widened by 12 mln year-on-year to 72 mln levs.
Source: Dnevnik (29.01.2008)

Japan is willing to finance the expansion of Port Varna and Port of Bourgas according to Austrian media. The investments will be worth USD 370 mln. Both ports would like to increase their role as cargo terminals of the Black Sea. So far Japan has granted credits of total value USD 840 mln for different economic projects in Bulgaria.
Source: Agency Focus (07.02.2008)

Japanese government will allot EUR 235 mln loan to Bulgaria for the construction of container manipulation terminals at Port Varna – East and Port Bourgas – West. The deciosion was announced yesterday after a meeting between the Japanese ambassador Tzuneharu Takeda and Bulgarian Minister of Foreign Affairs Ivaylo Kalfin. The loan is granted by the Japanese Bank for International Cooperation and the project is planned to be finished in 2015.
Source: Sega (12.02.2008)

Kremikovtzi prepares an action plan for ending the crisis Kremikovtzi is considering an action plan for ending the crisis, was made clear after the latest meeting of the company Board of Directors. The plan foresees clients of the steelmaker to open accredited accounts to NEC, Bulgargaz and Bulgarian State Railways (BDZ) for realization of ready products. Currently Kremikovtzi is overrun by output that cannot be realized as BDZ refuses to transport shipments in and out the steel plant. Tons of resources are stockpiles at Port Bourgas and Port Lom. Kremikovtzi does not have enough funds to pay Bulgargaz as well, and this is why the plant operates at minimum capacity. It is essential that the entities on the matter find a solution as soon as possible, commented the Deputy Minister of Economy and Energy Nina Radeva. According to informed sources, the steelmaker has done business mainly with the UK-based Stemcor. The British company has both supplied resources to Kremikovtzi and realized the production of the mill. Stemcor has made the payments to NEC, Bulgargaz and BDZ. Often the payments have been delayed which led to the tension.
Source: Trud (07.03.2008)

The containerised cargo terminals at the Bulgarian Black Sea ports of Varna and Burgas will be commissioned into operation in October 2014, said transport minister Petar Mutafchiev. The project will receive a 226.14 mln euro loan from the Japan Bank for International Co-operation (JBIC). The two countries should sign the final loan agreement by May 19 with the Bulgarian parliament due to ratify the document by the end of June. The headway on the project allows the to start farming out in early August the first project-related activities. Bulgaria will tender the design, construction and site supervision works and will hire a consultant to select operators for the two cargo terminals.
Source: Dnevnik (02.04.2008)

A second new terminal for containerised cargo could be built in Varna, said Danail Papazov, executive director of Varna Port. A 2.0 ha site on Canal 1, which links the Black Sea with the inland Varna lake, has been earmarked as a likely location for the new terminal. The great advantage of the site is that it is located before the Asparuh bridge. Navigation under the bridge is currently limited to an airdraft of 41.5 m which stops bigger containerised cargo carrier from docking at the Varna-West port. The new containerised cargo terminal funded by the Japan Bank for International Co-operation will also be located after the bridge.
Source: Dnevnik (16.04.2008)

BGN 1 million will be used for a large-scale reconstruction of the pier in Varna, said the executive director of Port Varna SPJSC Danail Papazov. A special pontoon quay with nearly 40 seats for the most luxurious yachts will be purchased for approximately EUR 150 000. The platform will have electricity, water, Internet and cable television. The places for smaller boats, laying alongside the quay, will be increased from 50 to 80.
Source: Standart (29.05.2008)

Over 350,000 tons of grain from the '08 crop have been shipped so far from Bulgaria's Black Sea port of Varna, Dnevnik learned from port director Danail Papazov. Grain exports could reach 1 mln tons as shipping activity usually remains robust through September. Just over 250,000 tons were exported in '07 on the back of a drought-affected crop. The International Grain Council has forecast Bulgaria to harvest 5.8 mln tons of grain this year. Domestic consumption is estimated at 2.5-2.6 mln tons annually. In related news, the Sofia commodity exchange said that this year's milling wheat crop is close to 4.2 mln tons.
Source: Dnevnik (04.08.2008)

Hungarian companies want to participate in the implementation of the project for moving Port Varna-East, it became clear after the meeting between the mayor of the sea capital Kiril Yordanov and the Ambassador of Hungary to Bulgaria Judith Lang. According an idea, launched 2 years ago, the cargo areas of the port of Varna, situated near the railway station, almost in the town centre, will be moved into the area of the Maksuda quarter, and the free land will be developed as an urban recreation area.
Source: mediapool.bg (15.08.2008)

An Israeli company and a leading container operator with experience in port management have declared interest in participation in the construction of the new container terminal in Varna and in the relocation of the ex-port Varna-East. The terminal, along with the one in Bourgas, have to be put into operations until 2014. A report informed that the companies are interested in a concession of the new terminal. According to the contract, signed between the Council of Ministers and the Japan Bank for International Cooperation, the concession form would be clear in April, 2010, and after this date a concessionaire may be chosen. Hungarian and German companies have declared some interest in participation in various phases of the port re-location.
Source: Dnevnik (09.09.2008)

Bulgaria's Varna-West Port Opens New Container Terminal The new terminal at the Varna-West Port has a platform for loading and unloading containers, entrance checkpoint for heavy trucks, a computerized system and center for managing the work flow. The completion of the first stage of the new terminal at the Varna-West port was marked by an official inauguration ceremony in the presence of Bulgaria' Transport Minister Petar Mutafchiev and the German Ambassador to Sofia Michael Geier. The ceremony began at 10:30 am on Monday at the Varna-West Port. Other participants included local politicians, representatives of the maritime business and of the German company suppling the equipment for the new terminal, and clients of the port. The ceremony included the inauguration and putting in operation of the new 100-ton mobile crane, recently purchased from Germany and other port equipment. The new terminal has a platform for loading and unloading containers, entrance checkpoint for heavy trucks, a computerized system and center for managing the work flow. The total investment amount is estimated at BGN 11,300. With the new equipment the Varna-West port would be able to process the huge container traffic, which just in 2008 has increased by 60%.
Source: Darik Radio (03.11.2008)

The Ministry of Transport is expecting no later than the end of the month the position of the cluster Varna-west about the concession of the joint terminal of the same port, announced Minister Petar Mutafchiev. Four years ago the industrial grouping involving Solvay-Sodi JSC, Agropolychim JSC, Devnya Cement JSC, Kaolin JSC and Kumerio demanded its concession by rights. The government then did not respond to their request. Now, because of the global financial crisis first the position of Devnya Cement JSC will be tested. It provides about 80 percent of all cargo of Varna-west.
Source: Dnevnik (04.11.2008)

Port Varna EAD reported BGN 2,5 M profit for 2008 as the global financial crisis have not hit the largest Bulgarian port yet . The port handled 7. 65 million tons of freight in 2008 as 8 million tons more are expected to pass through it until the end of the year, manager of the company, Danail Papazov said. Due to fears over the deepening global financial crisis, the company has prepared an anti-crisis programme, which includes expenditure cuts and less investments but does not envisage staff reduction. The port said they expect a decrease in freight volumes in the beginning of 2009 due to slowing production from big factories, as well as decrease in Chinese cargo shipments.
Source: Darik Radio (23.12.2008)

Port Varna SPJSC - Varna has appointed Extraordinary Meeting on 23.01.2009.
Source: Registry Agency (03.02.2009)

Port Varna SPJSC - Varna has appointed Annual general meeting on 27.05.2008. Meeting agenda includes: adoption of the Annual Report for Year 2007.
Source: Registry Agency (03.02.2009)

The company is registered in Territorial administration Big taxpayers and insurers towards 2009, 04.30
Source: Tax Administration (30.04.2009)

The processed freights by Port Varna were fewer by10 percent for the first six months of 2009 compared to same period last year but there is been slight growth in revenue, announced the Director of the company Danail Papazov. Profits from the processed 3 million tones cargo is BGN 1 million, he added. The results are due to good grain campaign and the processed heavy equipment - primarily intended for the wind parks in the region explained the port director.
Source: mediapool.bg (10.08.2009)

Forwarding companies expect income in the sector to rise after December 2, 2009 when the ferryboat line Varna-Port Caucuses will start operating, Georgi Minchev, chairman of the National Association of Bulgarian Carriers (NABC), told the Pari daily. A customs check-point for excisable goods will be opened at port Caucuses and it will allow spirits and cigarettes to be imported. The transportation of goods from Bulgaria to the East is important. It will compensate the 50-percent drop in exports to Western Europe, due to the decline in consumption, Minchev commented. The association has some 80 members. The new ferryboat line will shorten the time for delivery. The time for container transport will be the same as that of road transport and prices will drop. The development of transport on sea-river-railway is the future of the industry and should become priority for the government. That is the way to make Bulgarian railways competitive, to bring higher income for forwarding companies and the state, the ex chair of the parliamentary transport and communication committee, Yordan Mirchev, told the Pari daily. The income of shipping firms has decreased by half since the beginning of 2009 due to the downturn, data of the NABC show. They dropped from over BGN 600 million in 2008 to BGN 300 million. Some 2,000 are the companies operating on the Bulgarian market. Unlike international carriers, no forwarding company has been declared insolvent. Revival on the market is expected at the beginning of 2010 after the ferryboat line Varna-Port Caucuses is opened
Source: Pari (24.11.2009)

Concession prepared for large transport facilities The municipalities of Sofia and Plovdiv will be able to apply for the concessions on the two cities' central stations, deputy minister of transport Kamen Kichev said. The new strategy for modernisation of railway, port and airport infrastructure is now ready and will be officially presented in early 2010. According to it large ports like Burgas, Varna-East and Varna-West, the central stations in Sofia and Plovdiv, and the airports in Plovdiv, Ruse and Stara Zagora will be concessioned off. We have not abandoned the idea for public-private partnership, Kichev added. A new scheme will be used for the upgrade of stations. They will turn into transport hubs that will include the bus stations and the related parking lots. Interest has been shown already in the concession on the airports in Ruse and Stara Zagora. The airfield in Targovishte, which is owned by the Plovdiv airport, will be the first to be offered to concessionaires, in January 2010.
Source: 24 chasa (21.12.2009)

Bulgaria's sea ports and airports will be offered on concession to Qatar and Kuwait, the transport minister has said. Minister Alexander Tsvetkov said priority will be assigned to the Danube bridge, linking Silistra and Kalarash, the airports at the towns of Plovdiv and Russe and the sea ports at Varna and Burgas. “The ministry's main task will be to prepare quickly the sites for concession. The state has never been a good owner and it is well known that the private owner always manages them better, “ he said. The issue will be on the agenda of the minister visit to Qatar and Kuwait next week as part of the governmental delegation, led by Prime Minister Boyko Borisov. The minister pointed out the Bulgarian Railways Company has been hard hit by the crisis and the cargo transported by it has decreased by 60% at the end of 2009 over the previous year, mainly due to the shutdown of the steel mill Kremikovtzi.
Source: Darik Radio (22.03.2010)

"We are preparing an accelerated concession of part of the transport facilities in the country - the ports of Burgas and Varna, the airports in Plovdiv, Ruse and Stara Zagora. Private investors will take a part of Sofia airport", announced the Transport Minister Alexander Tsvetkov. Preparations for these sites is going under so that the procedures are innitiated in the next month or two. It is possible that some of them are granted as early as this year, although the procedure is complex. Fast concession may be seen as anti-crisis measure by which to fill the deficit in the Treasury. This week the Transport Ministry will submit a plan for the restructuring and development of BDZ.
Source: Trud (29.03.2010)

The Government adopted a report of the Minister of Transport, Information Technology and Communications Alexander Tsvetkov for the start of preparations for concession of the ports of Varna East, Varna West, TPP Ezerovo, Petrol, Ferry Complex - Varna. Parts of the port for public transport Varna, Burgas-East, Burgas-West, Rosenetz, Nessebar and Terminal 2A, and parts of the port of Burgas will be also given to concessioners. The purpose of granting a concession for this port infrastructure is to attract private capital to operate in the public interest. Thus the sites will become convenient transport and logistical centers for passengers and cargo.
Source: Dnevnik (29.04.2010)

Public discussions on ports to be held We have drafted a strategy for the concessioning of ports and panels of experts will be ready with the analyses on these by the end of June, Deputy Transport Minister, Kamen Kichev, said at a session of the Consultative Council on Water Transport in Varna. He refused to specify the number of candidate concessionaires for the Varna Port. Public discussions on the concessions will be held after the analyses are ready. Leisure boats sailing along the Bulgarian Black Sea coast will be inspected throughout the summer. These are ready for operation in general but we have certain remarks,” added Kichev. Some 70 such vessels, aged five to ten years, sail in the summer in the Bulgarian Black Sea coastal waters.
Source: Class (04.05.2010)

A decision on concessioning some of the civil airports is expected to be made at today Council of Ministers’ session. The Cabinet will discuss a report of the Transport Ministry on the preparation for seeking future investors. The ministry’s programme on the development of infrastructure projects concessioning of the airports in Ruse, Gorna Oryahovitsa, Stara Zagora and Plovdiv and of the cargo terminals of the airports in Plovdiv and Sofia. On April 28 the ministers voted for concessioning parts of the ports in Bourgas, Varna, Ruse and Vidin. The same procedure is expected to be applied for the proposal for concessioning railway infrastructure units – the Central Railway Station in Sofia, the Poduene Railway Station, the Central Railway Station in Plovdiv and the Central Railway Station in Varna. The main purpose of seeking concessionaires is the utmost necessity of urgent investments in the airport, port and railway infrastructure.
Source: Class (12.05.2010)

Port of Varna registers a profit of BGN 1.5 mln The port of Varna processed 2.2 million tonnes of cargo in the first four months of 2010 and registered a profit of BGN 1.5 mln, a 25% increase, compared to the same period last year, said the port's Director Captain Daniel Papazov on Dnes + website (Today +). Compared to 2009, the revenue of the port rose by 5% due to more expensive freights consisting mainly of equipment for wind turbines, pipes, transit goods and equipment for power plants. After June 15, a bountiful grain harvest is expected, although the old harvest is still being exported. The repairs of the largest warehouse at the port of Varna-West have begun. It will be used for the storage of grain. This year, another investment is scheduled - the construction of a special floating facility for sulphuric acid, which will be located in the area for dangerous goods. Overall, BGN 3 mln will be invested by the port of Varna in the storehouse and the floating facility. The purchase of a mobile crane worth BGN 6 mln has also been planned
Source: Class (25.05.2010)

Bulgaria to lose a total of ˆ100 mln per year due to the lack of container terminals Every year of additional delays in the construction of container terminals in Varna and Burgas will cost Bulgaria a total of ˆ100 mln a year of forfeit benefits, stated for Klassa Doctor of Engineering Georgi Valkov, an expert on port facilities and a member of the Bulgarian Chamber of Engineers in the Investment Design (CEID) and of the Ordre des ingeneurs du Qebec (Canada). If the terminals are built before the 2015 deadline, when a global economic recovery is expected to take place, initially, a total of 700,000 TEU (Twenty-Foot Equivalent Unit) of intermodal shipping containers annually will be unloaded at both ports. According to the more optimistic forecast, however, within 2-3 years after the completion of the facility construction project, a total of 1 million TEU per year will be processed through Varna and Burgas. As a result, ports and freight forwarders could share about ˆ100 of profit for each overloaded container, or, an overall of ˆ100 mln annually, added Valkov. His reason for stating this were the signals submitted by the state-owned Bulgarian Ports Infrastructure Company on the option of redirecting the loan of ˆ230 mln granted by Japan, originally intended for the construction of the terminals, to other purposes - for example, the rehabilitation of Bulgarian railways. The port terminal project is funded by the Japanese government under a development loan of JPY 37 bn (ˆ230 mln at the exchange rate when the loan was signed on November 15, 2009). It was granted by JICA (Japan International Cooperation Agency) for a period of 25 years, with a seven-year grace period and an annual interest rate of 1.4%. So far, however, the constructional design phase has not commenced and the launch of the project has been delayed for about a year and a half for several reasons. The seven-year grace period is already on, so are penalty overdue fees. Meanwhile, our neighbours have been investing in infrastructure. The volume of cargo disembarked at Thessaloniki and Constanta has been increasing, while ports have been recording a profit of ˆ200-300 for each overloaded container. Moreover, the Romanian port of Constanta has also registered significant profits thanks to subsidies from the Japanese government. BP Port Infrastructure announced in 2009 that the implementation of the construction project for new container terminals in Varna and Burgas has started. This became possible after JICA had approved the contract for consultancy services signed between the enterprise as contractor and the joint venture of US Moffatt & Nichol and Oriental Consultants Co, Ltd in Japan. Both companies have extensive experience in the design and supervision of the construction of ports and terminals. For the time being, our administration claims that it has been encountering problems with Terminal 2A for bulk goods, which already exists in Burgas. Its construction was also funded by Japan. Since the construction of the facility, it has processed over 6.5 million tonnes of cargo. Currently, with the suspension of the Kremikovtzi metallurgical plant, Terminal 2A has not been functioning at its full capacity and the operator has difficulties with reimbursing funds borrowed. According to Professor Valkov, however, the only terminal meeting the environmental requirements for bulk goods will start operating in no less than a 100 years - giving us enough time to recover from the crisis and increase cargo loads.
Source: Class (30.06.2010)

The Bulgarian ports of Bourgas, in the south, and Varna, in the north, are experiencing increased exports of grain crops, which is expected to continue into September. The bulk of Bulgaria’s grain produce travels to markets in the Arab countries and Europe. The port of Bourgas exported 236,000 tonnes of grain crops between January and end-July. A further 45,000 tonnes are being stored at the port warehouses before they are loaded up, and companies have requested space for an additional 100,000 tonnes. Grain producers say rapeseed and wheat make up the largest amount of Bulgaria’s grain exports at the moment but the sunflower yield is also expected to come in good. Varna is experiencing even stronger exports. The port’s director Danail Papazov was quoted as saying that 1.1 million tonnes of grain has been exported since January.
Source: Dnevnik (20.08.2010)

China Saves Bulgarian Sea Ports China might play the key role in saving the Bulgarian sea ports. “When I go to the USA for the UN session I ill have talks with the prime minister of China to discuss options for joint projects,” PM Borissov announced in Varna yesterday. We need contacts with major goods’ suppliers, countries that boast high production standards and export rates. With these countries we can launch public-private ventures that will revive our ports, the PM told the Standart. The ultimate goal is to bring back to life the Bulgarian ports and make them work at full steam within the coming 7-8 years. In the next two years Bulgaria will seek funding for these projects, Borissov commented. Another strategic project – a channel connecting the Danube and the Black Sea will also be Bulgaria’s priority in the near future.
Source: Standart (30.08.2010)

China and India to Rescue Bulgarian Ports Evgeniy Moskov, Director General of State Enterprise "Port Infrastructure" - Mr. Moskov, do you think that the Chinese cargo will save Bulgaria's Black Sea ports from bankruptcy? - I truly hope so. Speaking at a forum in the coastal city of Varna, PM Borissov clearly stated that the small volume of cargo is the main problem of Bulgaria's ports. And the cargo volume is small for two reasons - the crisis in the Bulgarian economy and the collapse of Kremikovtsi, which made it necessary for the state to bail out the ports in Lom and Burgas. The state subsidies will be used to make absolutely necessary investments in the ports' infrastructure and to pay off the state-guaranteed loan, which was granted by the Japan Bank for International Cooperation eleven years ago to finance the construction of the A2 terminal at the Port of Burgas. This is why we want to attract huge exporters such as China, Russia and India, for whom Bulgaria's ports may become the gateway to the European market. The cargo from these countries will not only make up for the collapse of Kremikovtsi, but will further expand the cargo turnover at our ports. The second reason for the small volume of cargo processed at Bulgaria's ports is their modest technical capacity. Here PM Borissov is again right in saying that by attracting huge non-European exporters and signing contracts for public-private partnerships, we can easily generate the financial resources necessary for the modernization and upgrade of our ports. - How do you manage the serving of the Japanese loan for this terminal? - It is extremely difficult. Today (editor's note - yesterday), a JBIC mission arrives to analyze the future of Terminal 2. After Kremikovtsi went bankrupt, the terminal functions at a third of its capacity which hinders the serving of the debt. Only 2.5 million tons of cargo pass through 2A. These make up 60% of the cargo turnover of port Bourgas but form only 14% of the port's revenues. Now the Japanese arrive to check something I told them they have to inspect three or four years ago when it was obvious to everyone Kremikovtsi would go bankrupt. They will try to find out variants for attracting transit bulk cargo or for transforming 2A into a terminal for general cargo or containers.
Source: Standart (31.08.2010)

Thessaloniki Port Invites Bulgarian Companies Thessaloniki port has announced it reduced its prices by 20% and invited Bulgarian companies to make joint combined shipments from Europe along the Danube river. The idea is that combined shipments be made from Bulgarian Danube ports of Vidin and Lom to Thessaloniki or from Thessaloniki to Varna by trains and from Varna to Russia and Ukraine by ferryboats. The company which operates Thessaloniki port will construct a freight depot in Bulgaria if enough loads are available and it has extended an offer to Bulgarian companies to join the idea. "The place of the future freight depot should be near a railway track or a road artery," said Stylianos Aggeloudis, CEO of Thessaloniki port.
Source: Standart (07.10.2010)

Aurubis says port concession haze holds up EUR 25m project The fuzzy situation with the concession of Bulgaria’s ports of Bourgas and Varna is delaying a EUR 25 million investment project, said Peter Willbrandt, board member of Europe’s largest copper producer Aurubis. Speaking to Dnevnik at the dedication ceremony of the company’s expanded slag flotation plant in the Bulgarian town of Pirdop, Willbrandt said that Aurubis plans to build a raw materials warehousing facility at the port of Bourgas, on the southern Black Sea coast. But while it pledged back in March to concession off the ports, the Bulgarian Ministry of Transport has still not launched the procedure although preparation is already underway. No deadline for signing the concession agreements has been fixed though, the ministry noted. At the moment, Aurubis takes 60% of its raw materials from South America via Bourgas, deriving the balance from local mines. Nicolas Treand, executive director of the site in Bulgaria, said the Bulgarian administration lacks the initiative needed to implement such projects. Commenting on ambitions by the European Commission (EC) to slash carbon dioxide (CO2) emissions by 30%, Willbrandt said this target would place an additional burden on copper producers. Unless schemes are put in place to offset this impact, the industry might be caused to disappear, he warned.
Source: Dnevnik (08.10.2010)

Chinese investors have shown interest in our four ports, said the Deputy Minister of Transport, Communications and Information Technology Kamen Kichev. These are the sea ports in Varna and Bourgas and river ports in Rousse and Lom, but it was not specified exactly in which port the foreign capital will enter. Next week a team of Transport Ministry is going on a visit to China, where the overall strategy for concessioning of ports, airports and railway stations will be presented.
Source: mediapool.bg (18.10.2010)

Bulgaria Invites Chinese Companies to Invest in Black Sea Ports Bulgaria will invite Chinese companies to invest in its Black Sea ports. Bulgaria's Minister of Transport Alexander Tsvetkov had a meeting with his Chinese counterpart Li Shenglin in Beijing yesterday. The two ministers discussed the opportunities for cooperation in the field of port infrastructure through concession or joint ventures. Bulgaria may provide excellent conditions for port operators. "We think that the Bulgarian ports may be a lucrative business and offer an alternative road to the countries in Central and Eastern Asia," Minister Tsvetkov added. Later in the day Minister Tsvetkov discussed the prospects of investment in Bulgaria with the managements of China National Machinery Industry Complete Engineering Corporation which is a leading company in the field of infrastructure.
Source: Standart (28.10.2010)

Varna Port with a new project for building terminals A new project for the construction of two deep-water terminals – for grain vessels and for container carriers - was proposed yesterday by Varna Port’s Executive Director, Captain Daniel Papazov at a roundtable with the participation of Deputy Transport Minister Kamen Kichev, MPs from GERB from Varna, the city Mayor Kiril Yordanov and representatives of the entire branch. According to Papazov, the new project is more feasible than the expansion of the port in the direction of the Varna lake and the Maksuda housing suburb proposed two years ago when a memorandum for financing was signed with the Development Bank of Japan. However, the proposal has turned out to be implausible since the Asparuhovo bridge is not high enough for big vessels to pass under it, and the entire idea of building deep-water terminals for grain ships and container carriers is to attract such vessels. This renders the project, for which Japan would have lent Bulgaria ˆ140 mln, meaningless. This was confirmed to journalists by the Executive Director of the Maritime Administration Sergey Tsarnakliyski. He said that “the Japanese loan is disadvantageous to Bulgaria”. According to him, a lot of time since the agreement was signed has already been lost and we will have to pay interest now although the project has not started yet. “The new project for the expansion of the Varna Port will rely on financing from the Cohesion Fund, which we can begin to use in 2014,” said Captain Papazov during his presentation yesterday. He explained that the share of State funding of such a project will be 15%, which is several times less than in the case of the former project, and this would be more advantageous than taking a loan from Japan. During a closed-door meeting at the Maritime Administration earlier that day, the Deputy Transport Minister met with branch representatives and commented on issues related to the problems facing maritime education and the safety of navigation. Introduction of stricter requirements to the centres and educational establishments offering training services will be considered in order to improve the quality of navigation education, learnt Klassa
Source: Class (22.12.2010)

The freight volume processed by Port Varna, one of Bulgaria's two major Black Sea ports, grew by 12% in 2010, year-on-year. According to data announced by Danail Papazov, CEO of Port Varna, the port handled a total of 8 million metric tons of goods and cargoes in 2010; in 2009, it processed only 6.7 million metric tons of goods. It completed 2010 with a net profit of BGN 4 M, almost triple the 2009 profit. Papazov emphasized the fact that Port Varna invested BGN 3 M in its facilities in 2010, and plans to invested another BGN 3-5 M in facilities and equipment in 2011. According to Papazov, the factories located in the town of Devnya – a major industrial area with chemical and cement plants located right off Port Varna-West – have returned to the amounts of freight they processed through the port before the economic crisis kicked in in 2008. A total of 1.5 metric tons of grain were exported through the Varna Port in 2010. Bulgaria's Port Varna is facing an increasing competition; for example, in the fall of 2009, Greece's Thessaloniki Port (with a total freight traffic of 14.4 metric tons in 2009) invited Bulgarian companies to use its facilities.
Source: investor.bg (05.01.2011)

Bulgaria to cancel loan agreement with Japan Bulgaria's government decided on Wednesday to launch talks to terminate a JPY 37 billion loan deal with the Japan Bank for International Cooperation. The country signed an agreement in 2008 to obtain funds for building container terminals at the Black Sea ports of Varna and Bourgas. Their construction, however, has not been started yet, which made the government drop the project. The move was also prompted by the fact that the port of Bourgas and state-owned company Port Infrastructure were facing difficulties in servicing another loan from the Japanese bank, worth JPY 4.3 billion. The finance was extended in 1998 for the construction of a bulk cargo terminal at the port, which was completed in 2010.
Source: Dnevnik (24.02.2011)

Bulgaria's state budget made almost BGN 16.8 M from the concessions of port and airport terminals in 2009, according to final reports of Bulgarian institutions, the government announced Wednesday. The final 2009 figures confirm earlier statistics; in February, the Bulgarian Transport Ministry revealed preliminary figures showing that the government got BGN 16.7 M from port and airport concessions in 2010, a slight decrease year-on-year. The facilities on concession in 2009 were the Lesport terminal, a part of the Black Sea Port Varna, leased in 2005 to Chimimport Holding, owned by the Varna-based group TIM; the Black Sea Port Balchik complex leased in 2005; the Danube River Silistra ferry terminal leased in 2006; the Danube River Svishtov Port leased in 2007; Varna Airport and Burgas Airport leased in 2006; the Danube River Port Oryahovo leased in 2007; the Danube River Port Somovit leased in 2009. The Danube River Port Vidin North was granted on concession only in 2010. The government has declared that a review of the contracts has made it clear the concessionaires are living up to their obligations tot he state; the total investments made in the ports amounted to BGN 4.6 M; the total investment in the airports in Varna and Burgas is BGN 19.9 M.
Source: Darik Radio (15.04.2011)

Not à single investor is interested in the concession of airports Gorna Oryahovitsa, Plovdiv and Rousse, as well as to the management of railway stations, Deputy Transport Minister Kamen Kichev admitted yesterday. "The only positive experience of government for infrastructure concessions is of Port Burgas, which is managed by the Navigation Maritime Bulgare (Navibulgar) JSC," he said.
Source: Sega (30.06.2011)

The Varna West port near Bulgaria's Black Sea capital has processed 1 065 000 metric tons of cargo in September 2011, according to official information from the Transport Ministry. This an absolute record breaker, beating the one from August, 2011 – 1 million tons. Since the beginning of the year, the port has processed over 6 665 600 tons, which is 12% more, compared to the same period of last year; 35% more compared to the first nine months of 2009, and 10%, more, compared to 2008. There is an increase in all main types of cargo – grain, containers, sodium, coal, fertilizers, cement, and scrap. The grain exporting campaign is assessed as extremely successful with 1 513 793 tons exported so far (12% increase), mainly to Spain, Portugal, the Netherlands, Belgium and Greece. There is also a 5% increase in the number of processed containers – 91 000 since the beginning of the year with a 21% increase in the number of full containers, which is another positive trend. The company expects that 2011 will be one of the most successful years ever with 8.5 million of processed cargo by its end of which 130 000 containers and a net profit of BGN 4 M.
Source: econ.bg (05.10.2011)

Oiltanking increases capacity of sulfuric acid export in Varna Oiltanking Bulgaria has put into operation a new system for loading of liquid products at Port Varna West. The investment amounts to EUR 100 thousand and is implemented by Oiltanking Bulgaria and Port Varna SPJSC. The funds were spent for construction of an additional station in their already existing facility at wharf ¹ 2 of Port Varna West. The construction works met all global and European safety and environmental protection standards. In 2010 Oiltanking Bulgaria processed only sulfuric acid produced by Aurubis Bulgaria. The company reported BGN 1.1 million profit, sales revenue of over BGN 4.3 million, according to a report of the company. In 2010 it received and unloaded 876 tons of sulfuric acid, which is 10.5 percent less than in 2009. The reason is in the suspension of production at Aurubis Bulgaria for technical reasons. The new investment is to ensure the smooth use of the facility for a long period of time and increase the capacity of loading and unloading. Oiltanking Bulgaria operates since 1999, when Germany-based Oiltanking GmbH, Aurubis Bulgaria and Port Varna established a joint stock company Oiltanking Bulgaria. The goal is the construction and operation of a terminal for storage of sulfuric acid within Port Varna West. The terminal has a capacity of 33 thousand tons and was built in just 10 months, officially opened in the autumn of 2001. The investment was BGN 13 million, and funds were provided by Oiltanking GmbH. Over 650 vessels with a total volume of nearly 5 million tons have been loaded since commissioning of the facility until now. The terminal is vital for Aurubis Bulgaria, which last year reported sales of BGN 3.2 billion and ranked second after Lukoil. Sulphuric acid is a waste product of the copper company in Pirdop and its implementation on the market can be a problem. So Aurubis Bulgaria JSC took part in the privatization of Agropolychim JSC to secure supply of the waste product. The price of sulfuric acid is BGN 67 per ton in the first half of 2011. Currently, shareholders of Oiltanking Bulgaria JSC are Oiltanking GmbH (Germany) and Port Varna SPJSC.
Source: investor.bg (12.10.2011)

State ports register 7.4% growth in profits Bulgarian ports have registered an increase of sales revenue by 7.4% on an annual basis up to BGN 41.1 mln for the first half of 2011, posted Investor.bg. The data was based on the financial reports of the ports of Varna, Burgas, Ruse, Lom and Vidin. A positive growth was also registered compared to the first half of 2009, when the realised sales amounted to some BGN 40.25 mln.. Statistics indicate a stir up of economic activities in the first half of 2011. For this period, the profit volume of ports reached BGN 2.25 mln, which is a 1% increase on an annual basis. For the first half of 2009, ports registered a loss of BGN 1.6 mln due to the negative financial result of Port of Burgas (minus BGN 3.2 mln). The profits of the Port of Burgas excluded the effect of changes in foreign exchange rates, which is substantial because of the major Port’s liabilities in Japanese Yen (for over BGN 50 mln). For the first half of 2011, the Port of Varna handled some 3.75 mln tonnes of cargo. Compared with the corresponding period of the previous year, more than 516,000 tonnes of cargo were treated, thus registering an increase of 16%. Nevertheless, the sales of the largest Bulgarian port declined by 2,9% on an annual basis to BGN 22 mln. The main clients of the Port of Varna are Solvay - Sodi JSC which generated revenues of BGN 2.4 mln for the first half-year as well as Nitropolichim SPJSC - Devnia (export of fertilisers from Agropolichim), which accumulated proceeds of BGN 1.75 mln as well as the sales of Devnya Cement JSC for BGN 290,000. For the first six months of 2011, the Port Complex Ruse J.S.Co. handled overall 468,000 tonnes of goods, thus marking an increase of 83,000 tonnes compared to the same period of 2010, or growth of 22%. There was mainly exports of coal (179,000 tonnes), cereals, coke (38,000 tonnes) and others via the Port, while the volume of grain exports doubled on an annual basis and reached 11,000 tonnes. During the first half of 2011, over 30,000 tonnes of timber were exported to Austria, while the timber treatment at the Port was launched in the second half of the year.
Source: Class (13.10.2011)

A Korean company is considering investment opportunities for the production of electric cars in Bulgaria's Black Sea city of Varna, South Korea's Ambassador Chun Bi-ho announced. His Excellency was in Varna Wednesday together with representatives of the Korean Trade Investment Agency (KOTRA). He explained that the undisclosed Korean firm in question first intends to assemble electric cars in Varna, and would them potentially go for manufacturing their parts their as well. Chun did not reveal more details about the potential investment in electric cars but announced that Korean firms are involved in talks for potential participation in the concessions of Port Varna, one of the two major Bulgarian Black Sea ports.
Source: econ.bg (03.11.2011)

Ports of Hamburg, Antwerp, Rotterdam and Dubai have serious intentions to take port Varna on a concession said the CEO of the company Captain Daniel Papazov. The port is included in the national strategy for concessions and according to Papazov concession is the only legal way for attraction of fresh capital from private companies. Experts say this is the way Varna to become a worthy competitor to other ports in the Black Sea region, including the modern Romanian port of Constanta. Some of the investors consider their bids in consortium with Bulgarian companies, revealed the head of the port, without saying names. The concession can not start in the spring because there are many accumulated problems to solve. The most important thing is to make a good analysis of concession and only then to proceed to the procedure. Papazov added that the concession of port Varna could become a reality at the end of 2013
Source: Monitor (11.11.2011)

The Port of Varna expects a profit of BGN 3 mln in 2012 “Varna Port expects a net profit of around BGN 3 mln at the end of 2012,” Daniel Papazov, Executive Director of the port, told Klassa. According to him, an even better economic performance could be achieved if there is no crisis on the international markets. About 8 million tonnes of cargo, roughly equivalent to the port’s capacity are projected to be handled this year. A total of 73 permanent contracts have already been signed. The plants in Devnya are among the largest shippers and grain is among the most exported goods. Around BGN 19 mln is expected to be invested in the renovation of the port’s equipment and its investment programme projects the purchase of two mobile cranes worth some BGN 10 mln.Purchase of grain loading devices for Port of Varna - West is projected as well and nearly BGN 7 mln will be invested in the rehabilitation of the port’s infrastructure.
Source: Class (05.01.2012)

2011 was a record year for the port of Varna with over nine million tons of processed cargo and over BGN 4 M in net profit. The information was announced by the Director of the Port of Bulgaria's Black Sea capital, Captain Daniel Papazov, quoted by Radio Varna Wednesday. Expectations for 2012 are that the processed cargo passed at the port will be at least 8 million tons. The port has already sealed 73 permanent contracts for 2011. The investment program provides for the purchase of two mobile cranes, as well as equipment for loading grain at the Varna – West port.
Source: Darik Radio (05.01.2012)

GEFKO Bulgaria to increase shipments through the port of Varna “It is strategically important to increase the volume of cargo through the port of Varna and the link between the Romanian port of Constanta and Varna is key to the company’s development,” said Alexander Rachinski, Executive Director of GEFKO Bulgaria. This may take up to two or three years. According to Rachinski, projects aimed at increasing the turnover of cargo are being prepared. They include several different partners and the decision to launch such a project may take about a year. “An eventual interest on the part of GEFKO in a concession of the port of Varna will depend on the company, our partners and State policy. The company offers delivery within 24 hours for groupage cargoes of between 3 kg and 3 tonnes from Russe to any destination in Romania. Within the same period of time, cargoes coming from Romania can be delivered from Russe to any destination in Bulgaria. In March, GEFKO Bulgaria will be delivering Renault cars. Currently, the company transports all the Peugeot and Citroen vehicles sold in Bulgaria. GEFKO’s partners include the transport companies Sima, Antoinette, Ringtrans, etc. “GEFKO is specialised in car manufacturers’ logistics and this is the sector where we are most competitive at present,” added Rachinski. According to him, in six months, the company should make progress in other sectors besides car logistics.
Source: Class (01.03.2012)

The ports in Vidin, Ruse and Burgas to become part of the core transport network of Europe “The ports in Vidin, Ruse and Burgas are included in the project for the core transport network in Europe,” said Georgi Genchev, Director General of the state -owned Bulgarian Ports Infrastructure Company yesterday in Varna. This means that they will become major logistics and transport hubs of Europe. The construction of the road and rail infrastructure connecting the hubs from the core network will be a priority. This means that if a country has a request for funding the transport hubs infrastructure, EU countries have assumed the commitment to secure the money. Currently, leasing under concession is the only option for the implementation of public-private partnership in Bulgaria. Other countries have various and more flexible management tools. Proposals for new management instruments are expected to be submitted after the adoption of the new legislation. “Other ports in the country, like the one in Varna, will be included in the broader transport network. Future maritime highways will be mapped after the adoption of the final version of the transport system. This will happen within a few months and no later than the end of the year,” explained Genchev. The drafted core transport network of Europe is expected to cover the entire continent, providing a maximum load of waterways at the expense of road transportation.
Source: Class (30.03.2012)

Port Varna Comes into Focus of German Investors German investors are highly interested in transport infrastructure. Bulgaria’s largest seaport offered for concession – Port Varna - is also an investment focus for German business, German ambassador Mathias Hoepfner said in Varna yesterday. According to him, linguistic training also plays an important role, as the graduates of the German language high school in Varna will be able to continue their education in Germany without entrance exams.
Source: Standart (20.04.2012)

Chinese investors are interested in the concession of Bulgaria's largest Black Sea port, Port Varna, announced China's Ambassador to Bulgaria, H.E. Guo Yezhou. Ambassador Guo was in Varna Wednesday, where he announced that Chinese companies could participate in the concession of Port Varna, after meeting with Varna Mayor Kiril Yordanov. His Excellency stressed that the topic about Port Varna is always on the agenda of the bilateral meetings of the Bulgarian and Chinese leadership. The Bulgarian government has already sounded out Germany and other countries in its search for a concessionaire of Port Varna. Last week the management of Port Varna announced that in 2011, Port Varna, consisting of two complexes – Port Varna-East in the city of Varna and Port Varna-West near the town of Devnya some 22 km inland – processed a total of 9.15 million metric tons of cargo, goods, and raw materials, thus achieving record results.
Source: Dnevnik (26.04.2012)

Bulgaria's Port Varna registers record freight volumes Bulgaria's largest Black Sea port, Port Varna, has seen record freight volumes since the start of 2012, the Bulgarian Transport Ministry announced. In July 2012 alone, Port Varna broke its record for monthly freight volumes by processing a total of 1.146 million metric tons of goods and raw materials. In the first seven months of 2012, Port Varna processed a total of 5.350 million metric tons of goods and raw materials, which is a 16% increase compared with the same period of 2011, which itself was a very successful year for the port. Port Varna has seen a growth in the volumes of almost all goods and raw materials that it processes – including grain, cement, sugar, ore, scrap, timber, oil products, and container goods. The grain trade has especially boosted the freight volume of Port Varna with a total of 1.302 million metric tons of grain exported in January-July 2012, double the amount exported in the first seven months of last year. The container goods trade has also seen growth at Port Varna, with a total of 75 000 TEU processed in the first seven months of the year, a 7% increase year-on-year. In January-July 2012, Port Varna's revenues amounted to BGN 31.3 M, a 16% growth year-on-year, while its profit amounted to BGN 2.384 M, a 72% increase year-on-year.
Source: 3e-news (10.08.2012)

Bulgaria's Ministry of Transport Reports BGN 23 M Revenues from Concessions for 2011 In 2011, Bulgaria's Ministry of Transport, Information Technology, and Communications controlled 9 concession contracts for the port terminals of Lesport, Balchik, Svishtov, Oryahovo, Somovit, Vidin-Sever, and Rosenetz, the Silistra ferry terminal, and the civil airports in Burgas and Varna, according to a report on the implementation of infrastructure concession contracts. The report was presented to the Bulgarian government on Wednesday. According to the report, as cited in a media statement of the government, revenues from concession activity amounted to BGN 23308 M, VAT included. Revenues from concession payments stood at BGN 23233 M, VAT included, compensatory damages at BGN 40665, VAT excluded, punitive damages at BGN 14434 VAT included, and revenues from sale of documents for participation in concession procedures at BGN 20000. Concessionaires of port terminals in 2011 were recognized investments worth a total of BGN 6, 212 M and Fraport Twin Star Airport Management AD reported investments of BGN 75,216 M in the civil airports in Burgas and Varna.
Source: Standart (17.01.2013)

Port Varna expands with military terrain The “Piasaka” terrain of the Bulgarian navy in Varna should become accessible to the residents and the visitors of the coastal city as an extension of the port of Varna, an urban planning project of the city says. The initiative is also supported by the caretaker government. For this purpose, the status of the land must be changed and its property has to be transferred from the Ministry of Defense to the Ministry of Transport, which intends to build a port terminal in this place. An expert group chaired by the minister of defense will prepare a proposal about the costs of the plan and the options of where to relocate the military unit, which employs 250 people, caretaker Prime Minister Marin Raikov said. The cabinet would change the status of the field only after this assessment. The Prime Minister also said that he was optimistic about the completion of the "Trakia" highway in the summer. At the beginning of the mandate of the cabinet, regional development minister Ekaterina Zaharieva examined the status of the project and urged construction companies to work in two shifts to make up for the delay. The construction of the second section of "Struma" motorway will also be started at the beginning of June, Raikov announced.
Source: Standart (18.04.2013)

With the votes of the Bulgarian Socialist Party (BSP) and the Movement for Rights and Freedoms (MRF), Bulgaria’s 42nd National Assembly voted the socialist-nominated Plamen Oresharski cabinet into power on May 29 2013. he structure and members of the Cabinet voted into office on May 29 consists of: Prime Minister Plamen Oresharski Deputy Prime Minister and Justice Minister Zinaida Zlatanova Deputy Prime Minister: Vacant And the ministers of: Finance – Petar Chobanov Economy and Energy – Dragomir Stoynev Transport – Daniel Papazov Agriculture – Dimitar Grekov Culture – Petar Stoyanovich Health – Tanya Andreeva Interior – Tsvetlin Yovchev Defence – Angel Naidenov Foreign Affairs – Kristian Vigenin Environment – Iskra Mihailova Youth and Sport – Mariyana Georgieva Education and Science – Anelia Klisarova Labour and Social Policy – Hasan Ademov Investment Planning – Ivan Danov Regional Development – Desislava Terzieva (Photo of Oresharski: bsp.bg)
Source: Capital market (30.05.2013)

The ports of Varna and Burgas to be expanded The main tasks of the government will be the expansion of the ports of Varna and Burgas and renovation of the Danube ports, said Minister of Transport, Information Technology and Communications Daniel Papazov who participated in a meeting of the General Assembly of the European Sea Ports Organisation (ESPO). He explained that in the coming months will begin the first steps to develop a detailed analysis and hopes that by the end of the year program for port development in the country will be ready. Papazov stressed that waterway Rhine-Main-Danube Canal, which connects with South Central and Western Europe, is very important for Bulgaria. "Europe has great potential for the Black Sea cargoes to arrive faster and safer through the waterway to the largest port in the world - Rotterdam. Therefore we need to improve the procedure and Bulgarian ports to become more competitive" Papazov said. He added that it was time to find territory for expansion of the Varna and Burgas ports for container handling.
Source: econ.bg (03.06.2013)

28 million levs revenue for the port of Varna in the first 6 months For the first six months of 2013, the port of Varna has generated revenues of around 28 million levs and handled around 4.5 million tons of cargo. It was clear from the words of the Minister of Transport, Information Technology Daniel Papazov during the official commissioning of two new mobile harbor crane Varna - West, announced the Ministry of Transport. Only this year we have invested more than 10 million lev in port infrastructure of the port of Varna, said Papazov. "I hope by the end of the year to be able to launch the project for deepening of the bottom of the zero-berth port of Varna - West. Analyzes show that only in a few years, it will increase by several million tons of liquid volume and hazardous cargo passing through the port, "said the Minister. "I know from personal experience how to operate the port of Varna and what efforts each employee has to make, this is one of the most successful companies in the field of transport," added Daniel Papazov. The two new cranes are a type HMK 170 E diesel-electric propulsion and universal and can be used for general and bulk cargo as well as containers. During heavy operations, they can run at speeds of ascent: 63 items for 32 min and at standard operations: 45 items for 40 minutes, the length of the arrow of each is 38 m price was 9 million levs, and according to plans to be paid for three years.
Source: econ.bg (12.08.2013)

Port Varna -a gateway for imports of LP gas- expects boom of trade thanks to new ferry The new ferry line Varna-Caucasus is one of the main prerequisites for maintaining and even increasing the cargo traffic and revenue of the Port Varna in the recent crisis. Almost immediately after the opening of the line in March 2009, it proved to be the most direct, fast and inexpensive way of trade between Bulgaria and Russia. The success story of the Varna-Caucasus ferry line also passed the boundaries of Bulgaria and has begun to attract cargo from other countries as well. The first Russian ferry was followed by a second and soon the first Bulgarian ship with a double capacity of the two Russian tankers will be added to the line. It is expected that the launch of the first Bulgarian ferry boat, named Varna, after a month or two will double the volume of trade between the Varna and Caucasus ports. Liquified petroleum gas (LP gas, or LPG or autogas) arrives to Bulgaria mainly through the Port Varna. According to statistics of the ferryboat complex of the port, in the first half of 2013, 1775 rail tankers with 59,898 tons of LPG were loaded in Varna from the Russian Port Caucasus. This means that a large part of the LP gas used in Bulgarian taxis, private cars and a lot of businesses like bakeries and many households comes from Russia in the two ferry ships Avangrad and Slavyanin. The LPG is supplied by Gastrade, the largest importer of this type of fuel in the country. Besides importing, the company is also the the railway carrier and supplier of OMV and other traders. LPG accounts for over 92% of the total of 64,900 tons of imports from Russia by ferryboats in the first half of 2013. Besides LPG, the other main products arriving from the Port Caucasus to the Port Varna are base oils. Cereals, especially white beans rank as third. According to statistics, ferry transports contribute to a significant increase in the foreign trade deficit of Bulgaria in its trade relations with Russia. While imports are steadily increasing, Bulgaria's ferry exports to Russia decreased. The imports from Russia to the Port Varna rose to 64,900 tons in the first six months of 2012 from 61,464 tons in the same period last year. Against this, in the opposite direction to Russia the two ferry ships transported only 11,246 tons cargo to Russia in the first half of 2013. After the launch of the Bulgaria ferry, it is expected that Port Varna will attract cargo from the Danube countries. For this end, the oldest railway line in Bulgaria between Ruse and Varna will be rehabilitated, Minister of Transport Daniel Papazov announced a few days ago. The project is divided into two lots and has a total indicative value of about EUR 305 million, he said. It will be funded with EU money under the Transport 2014-2020 operational program, Captain Papazov added. The first ever railway line in Bulgaria will be developed into a freight corridor between ports in Ruse and Varna. The line will surely attract a lot of cargo, mainly containers and grain from the Middle Danube area, as the Romanian port of Constanta is overloaded and maintenance at the Cernavoda canal is increasingly expensive.
Source: Standart (19.08.2013)

Bulgaria's Port Varna Expects Increase in Grain Exports Bulgaria's Port Varna EAD expects an increase in grain exports in 2013. According to the press office of the port, in July 2013 the port processed around 450 000 tonnes of grain cargo, including wheat, barley, corn, etc. Only in the first seven days of August, the strongest month for grain exports, nearly 238 000 tonnes were exported through Port Varna. Port Varna processes grain cargo year-round. Port Varna has processed grain exports in all months of 2013 so far. The main export destinations are EU countries like Belgium, Cyprus, France, Greece, Italy, Spain, Portugal, as well as other countries like Lebanon, Libya, and Saudi Arabia. In a medium-term perspective, the Port Varna EAD company has developed a program for improving grain cargo processing equipment. The port operator explains that they are doing their best to prevent an accumulation of grain trucks pending processing. Meanwhile, grain producers say that purchase prices of wheat have not changed, settling at BGN 260 – 270 per tonne, according to Radoslav Hristov from the National Association of Grain Producers (NAGP) and the price including transportation of the goods to the port of shipment amounting to BGN 290 – 300 per tonne. According to recent data of Bulgaria's Agricultural Ministry, 99.2% of the wheat has been harvested. Wheat production amounts to 4,789 million tones, the average yield being 423 kg per decare. The winter barley harvest has been completed, with 696 000 tonnes of grain collected and an average yield of 377 kg per decare. A total of 96.97% of the rapeseed harvest has been collected, the average yield being 238 kg per decare, as well as 93,16% of the rye harvest, the average yield amounting to 189kg per decare. According to data of Bulgaria's National Grain and Feed Service, 65.41% of the wheat harvest has good baking characteristics for producing bread.
Source: investor.bg (22.08.2013)

Germany interested in the port of Varna 'We are interested in the concession of the Port of Varna. We will wait and see what steps will be taken by the Bulgarian side to have a clear position'' German Ambassador Matthias Hoepfner announced in Varna after talks with the city's mayor Ivan Portnih. The Municipality of Varna will actively participate in tourism fairs in Germany by advertising itself on four such events there. The Port of Varna is the largest seaport complex in Bulgaria, located in the Black Sea city of Varna. It attracts serious volumes of cargo, including from Russia via the hugely successful new ferry line Varna-Caucasus.
Source: Standart (18.10.2013)

New plant in Ruse Facility for galvanizing and manufacturing of metal products will open doors in the Industrial Park of Ruse. The official opening of the new plant of Balkantsink is November 1. The comapny was created as a result of business cooperation of Italian industrial entrepreneurs with extensive experience in the production of hot-dip galvanized steel products. The complex is situated on 8 decares and includes industrial and office buildings, as well as a shop for assembly and repair. It is expected that production will reach 10,000 tons per year in two shifts. The new plant will create more than 30 jobs, as well as more jobs within the supply network. Total investment in the project is ÁÃÍ 4.5 million.
Source: Standart (31.10.2013)

Upgrade of Port Varna, Burgas Imperative - Bulgaria PM Bulgaria will seek public-private partnership schemes to develop container terminals at the Black Sea ports in Varna and Burgas, according to Prime Minister Plamen Oresharski. Speaking Friday in Parliament, Oresharski presented details in response to a question of socialist MP Borisalv Gutsanov about the fate of the project terminated during the term in office of the center-right GERB government. Oresharski, as cited by the BGNES news agency, emphasized that the upgrade of Port Varna and Port Burgas was imperative if Bulgaria wanted to attract a part of the freight flows currently circumventing the country. He responded to Gutsanov's question about the loan from the Japan Bank for International Cooperation earmarked for the construction of container terminals in Varna and Burgas Oresharski noted that the GERB government had cancelled the agreement for the loan of around JPY 37 B from the Japan Bank for International Cooperation, reminding that the contract for the 20-year-loan with a 7-year grace period and 1.4% interest rate had been ratified by Bulgaria's Parliament in end-2008. Stressing that EU funding could not go to port infrastructure, he said that it had been the last loan Bulgaria could have used because of its accession to the EU. He suggested that the cancellation of the loan had resulted in a disastrous lag in the development of Bulgarian Black Sea ports and Bulgaria had wasted an opportunity to turn them into gates to the EU for cargo from Russia and Central Asia. Oresharski claimed that the cargo flow had been diverted through the ports of Thessaloniki and Constanta, while an upgrade of the Bulgarian ports could have secured a bigger workload for freight rail services. Bulgaria's Prime Minister declared that the project could be restarted but under much more unprofitable terms, adding that the damage caused by the cancellation of the previous scheme could not be compensated easily and quickly.
Source: investor.bg (18.11.2013)

South Stream Transport signs storage, handling deal with Bulgarian sea ports Dutch-based South Stream Transport B.V., a joint venture established for the planning, construction and operation of the offshore section of the South Stream gas pipeline through the Black Sea, said on Wednesday it has signed an option agreement for the storage and handling of pipe segments with the Bulgarian sea ports of Varna and Burgas. The offshore section of the South Stream will consist of four parallel pipelines through the Black Sea, each made up of over 75,000 pipe segments. As South Stream Transport has identified suitable storage areas at the port of Burgas, the port of Varna East and the port of Varna West, the pipes will be stored in so-called marshalling yards at harbours on the shore in Bulgaria, and shipped to specialized pipe-laying vessels when construction starts in 2014, South Stream Transport said in a press release. The ports may be used for marshalling yards and related logistics services during pipeline construction, for a period of four to six years. “The marshalling yards in Bulgaria will play a key role in the logistics for laying the offshore pipeline and we are very happy to have come to an agreement with the two Bulgarian ports,” Oleg Aksyutin, CEO of South Stream Transport, said. The Gazprom-spearheaded South Stream pipeline will supply natural gas from Russia to central and southeastern Europe. Its offshore part will run from Russia's Black Sea shore across the Turkish exclusive economic zone to the Bulgarian cost near Varna and will consist of four pipeline strings with annual capacity expected to reach 63 billion cubic metres. Commercial operation is scheduled to start by the end of 2015. The Bulgarian section of the project will be approximately 236 kilometers in length. It runs from the border between the Turkish and the Bulgarian exclusive economic zone in the Black Sea, to the landfall in Bulgaria. From there, natural gas will be transported through the country by South Stream Bulgaria AD and further by other joint ventures into Southeast and Central Europe.
Source: Capital (16.01.2014)

Bulgarian Posts face loss of BGN 15 million in 2013: minister Bulgarian Posts faced a loss of BGN 15 million in 2013 if the subsidy is not taken into consideration. Minister of Transport, Information Technology and Communications Danail Papazov announced the news at a press conference, FOCUS News Agency reported. BGN 223 million were invested in the National Railway Infrastructure Company in 2013 and BGN 16 million - in Varna Port. Sofia Airport made a profit of BGN 12.7 million last year and Varna Port handled 10.8 million tonnes of cargo, which is a record high since it opened.
Source: Agency Focus (17.01.2014)

Bulgaria's transport min says Varna, Burgas port operators beat forecasts for 2013 The state-owned operators of the ports of Varna and Burgas on the Black Sea coast have beaten forecasts for 2013, the country's transport ministry said on Thursday. The port of Varna’s 2013 profit is seen at BGN 4.8 million, which is 90% above plans and 16% above the 2012 figures, the ministry said in a press release. The port of Varna handled 11 million tonnes of cargo in 2013, which is a record level for the past few years, according the the press release. Meanwhile, the port of Burgas’ estimate net profit of BGN 3.5 million is also well above the previous expectations of BGN 510,000 in earnings, the ministry said. The port operator posted BGN 20.6 million in revenue, up 5.3% on forecasts. Bulgarian Ports Infrastructure Company’s profit for 2013 amounted to BGN 18 million on an estimate revenue of BGN 73 million, the ministry said, without providing comparative figures. The company invested a total of BGN 12 million in 2013, up by over BGN 2.0 million from a year earlier. On the other hand, the cargo handled at the port of Ruse on the Danube river last year decreased 20.5% year-on-year to 595,000 tonnes, the transport ministry added, without providing information on the financial results.
Source: mediapool.bg (17.01.2014)

Michelin exported via port Bourgas Ports of Varna and Bourgas are to attract cargo from Serbia, Macedonia and other countries that have no sea outlet, such as Hungary and Slovakia. For the purpose though their link to other types of transport has to be improved. Transport Minister said that numerous projects focused on removing bottlenecks at ports are prepared for the next program period. Modernization of railway line Plovdiv-Bourgas and Ruse-Varna is planned, as the second will establish a comprehensive logistics network "river - rail - sea" through the development of multi-modal terminals in Ruse and Varna. Connecting ports of Varna and Bourgas is to be completed by 2020 after modernization of railway line Karnobat-Sindel. Representative of Michelin factory also expressed interest in exporting through port Bourgas. The Serbian-based plant has invested nearly EUR 200 million. It is ready to export huge quality of car types via the Bulgarian sea port. The Pirot-based factory produces 12 million tyres annually, as plans are production to go up to 20 million.
Source: Standart (29.01.2014)

New Varna port’s intermodal terminal built for BGN 150-200 million Assignment for design of the new intermodal terminal that is to be built in Varna has already been handed out in Ministry of transport, CEO of Varna port announced. Total value for completion of the terminal is to the amount of BGN 150-200 million. BGN 15 million has already been insured by the government. The facility is located in the region of the old railway station and the ex- factory Hristo Botev in Varna. Within the project five places for ships will be built. Two of them are envisaged for grain loads, two for containers and one for general cargo. The new quay wall will be 1100 meters long.
Source: money.bg (19.02.2014)

Bulgaria to Start Building Intermodal Terminal in Varna in 2015 The construction of the new intermodal terminal in Bulgaria's Black Sea city of Varna may start in 2015, according to Transport Minister Danail Papazov. Speaking Monday in Varna, Papazov noted that a working group was preparing the terms of reference of the facility. He said that the results of the work of the experts were to be available by the end of March. Papazov, as cited by the Bulgarian Telegraph Agency (BTA), argued that the intermodal terminal would have special quays for processing containers and grain. He told journalists that the designing of the facility would absorb around BGN 15 M. The activities for the construction of the intermodal terminal in Varna started in the summer of 2013. Bulgaria's Transport Ministry proposed that the terminal include Port Varna Iztok (Varna East) and railway station Varna and that the two be united in a complex. The project is to use state funding and revenues of Port Varna and State Enterprise Port Infrastructure. Papazov explained Monday that the ports in Varna and Burgas had signed preliminary contracts related to the construction of the South Stream gas pipeline. He announced that the ports could offer services related to the logistics of the implementation of the gas pipeline project, adding that the Bulgarian State Railway Company (BDZ) could also be assigned such tasks. Papazov assured that there was no need to beef up security at Bulgarian ports due to the current situation in Ukraine, stressing that the safety of the facilities had been guaranteed.
Source: investor.bg (11.03.2014)

Russian businessman ready to invest 3.0 bln euro in Bulgaria’s Varna port Russian businessman Andrian Sinebok is willing to invest EUR 3.0 billion in the infrastructure of the Bulgarian Black Sea port of Varna under a possible concession arrangement, Sofia-based media reported on Thursday. Apart from an overhaul and expansion of the Varna port, the Russian businessman's plan envisages the launch of a ferry line to Russia and the reconstruction of the railway track between Varna and Ruse, on the Danube, and the highway linking the two cities, daily newspaper Standart reported. The Russian businessman recently presented his investment plans before Bulgaria's prime minister Plamen Oresharski, deputy prime minister Daniela Bobeva and transport minister Danail Papazov.
Source: Standart (27.03.2014)

Construction of New Coastal Station at Port Varna Kicks Off Bulgarian Transport Minister Danail Papazov has turned the first on a new coastal station at Port Varna. Papazov informed that the investment in the construction of the two coastal stations at Port Varna and Port Burgas amounted to over BGN 4 M. He pointed out that the amount of processed cargo at Port Varna since the beginning of 2014 had increased by over 2%. He said that the navigable channels were to be deepened and that new equipment for Port Varna-East was to be purchased. Papazov also noted that the documentation for the new intermodal terminal at the port was being wrapped up. He said that the Transport Ministry was hoping that the competition would attract big designers that would be capable of completing the construction documentation for the new port and of preparing at least two projects for the recreational zone which would be located in the region of the old Port Varna-East.
Source: investor.bg (22.04.2014)

Projects for port Varna from all over the world International auction for the best projects for construction of new intermodal complex in Varna will be announced within days of the Transport Ministry, said Minister Danail Papazov during the presentation of the planned relocation of the port and connecting the city with the sea. New port facilities - container and grain terminal, 150-thousand-ton silo will be built in the Maksuda district on properties that are publicly owned and managed by enterprises to the transport ministry. This year were won BGN 15 million from the ‘Regions in Growth’ Find that will go for the technical project after the international competition. Intentions next year are ‘Regions in Growth’ to give the government BGN 90 million for the construction of a new quay wall, with which actually begin all constructions of the new intermodal terminal in Varna, explained Minister Papazov .
Source: Standart (28.04.2014)

Bulgarian provider of express delivery services Speedy will replace construction company Holding Roads in the BGBX 40 and BGBXTR 40 indices of the local stock exchange, the bourse operator said. The change will become effective as of June 20, the Bulgarian Stock Exchange (BSE) said in a statement posted on its website on Wednesday. Holding Roads said on Tuesday it has been declared insolvent, its activity has been terminated and its property placed under distraint. BGBX 40 is a price index that tracks 40 issues of common shares with the greatest number of transactions and the highest median value of the daily turnover during the last six months.
Source: Capital (20.06.2014)

South Stream: Pipes continue to arrive, despite the project was officially frozen in Bulgaria The European Commission said Thursday (21 August) that it was aware that a video reveals that room has been made at Bulgaria's Varna harbour for pipes to be used for the construction of the South Stream gas pipeline, in spite of the assurances by the country's government that the project has been frozen, Euractiv reports. A video published by Dnevnik, the EurActiv partner in Bulgaria, shows workers at the Varna harbour amid pipes delivered for the South Stream pipeline, making room for further arrivals. According to Dnevnik, the first batch of pipes have arrived by sea on 14 August. They had been brought from Germany, as they were produced by the company Europipe. A caretaker government in Sofia, which took office on 6 August, has frozen the construction of South Stream, following clear indications from Brussels that the EU executive would impose infringements on Bulgaria, unless the country re-negotiates its bilateral agreement with Russia for the construction of the pipeline, which is in breach of EU law.
Source: Dnevnik (22.08.2014)

Bulgarian Transport Minister Ivaylo Moskovski issued an order on Tuesday, ending the contract of the executive director of Port Varna Bozhidar Chaparov. Chaparov, who had been appointed during the government of Prime Minister Plamen Oresharski, was also dismissed from the board of directors of the port, Darik radio reports. Moskovski appointed as his successor Petar Seferov, who prior to assuming his new position on Tuesday, was director of port Varna-West. Seferov used to be director general of the Bulgarian Ports Infrastructure Company between 2005 and 2009. Port Varna registered a record turnover of above BGN 7 M in 2014 and at present has BGN 13 M in its accounts.
Source: Standart (04.02.2015)

Port Varna watches over containers Port of Varna JSC joined the project Securing Transit Containers (SETRACON). It is funded by the European Commission through the Joint Operational Programme Black Sea Basin 2007-2013 and with national funds. The beneficiary of the project is the Thessaloniki Technology Institute Alexander and partners are Port of Varna, port of Alexandroupolis and National Marine University in Odessa. The total cost of the project is EUR 532,785, 90% of which are from the EU. The project aims to ensure the security of sealed containers and their safe transportation between ports. The project is expected to improve the management and security of container transport and to deepen cooperation in the Black Sea and the Aegean. The project includes the implementation of the four groups of activities, among which is the development of an electronic application to track the movement of containers in real time. Representatives of the Port of Varna recently visited the port of Alexandroupolis, where experts from both ports discussed specific tasks for project implementation.
Source: Standart (19.03.2015)

íàäõâúðëÿ 11 ìëí. ëåâà. BGN 11 mln invested in the modernization of port Varna Port of Varna, which was officially opened on May 18, 1906, welcomed its 109th anniversary with excellent results. Over 3.6 mln tons of cargo was handled at the port this year, which is 15% more compared to the same period last year. A major share of this is cereals and loads of Devnya chemical plants. The statistics reported growth of 8.9% in another essential cargo of Port Varna - the containers. Until now have been reloaded over 51 thousand TEUs. In the first third of the year, the port has processed newly attracted cargo - 29 thousand tons of gas pipes for Azerbaijan. Total amount of revenues to the end of April is up 30.5%, which exceeds BGN 23 million. Until now, Port Varna realized investments amounting to over BGN 2 million for the supply of machinery and equipment and BGN 1.1 million for port infrastructure following its policy for constant modernization and technological development. The total value of planned investments of Port Varna EAD during the year exceeds BGN 11 million.
Source: Construction City (27.05.2015)

Saigon Newport show interest in ports in Bulgaria Vietnamese corporation Saigon Newport is interested to invest in ports of Bulgaria, emerged after a meeting of representatives of the company and the management of Port of Varna EAD in Bulgaria. ‘We are interested in investing in ports in Bulgaria’, said Rear Admiral Nguyen Dang Nghiem, Vice-Chairman and Director General of Saigon Newport. The corporation is a military and economic alliance that develops in three main areas - port and logistics services and shipping. The Vietnam-based Corporation is among the largest companies in the socialist republic, which spends much of its profits for social programs. Saigon Newport manages three ports in the city of Ho Chi Minh, three ports in Kai Leader Mep, two ports in the middle Vietnam, three ports in the city of Hai Phong and five river ports in the Mekong Delta. Last year the 30 companies part of Saigon Newport processed over 4.8 million containers, which is 50% of the total volume of container cargo in the Socialist Republic.
Source: Standart (25.08.2015)

Varna Port implement program for attracting new transit cargo Over 1000 tons of equipment with final beneficiary companies in Asia will be processed at the Port of Varna within a month, according to the press office of the port. Yesterday terminal Varna - West begun processing of two ships that deliver over 200 oversized elements with special technical designation. This is part of the program of Port Varna to attract new transit cargo. The two ships, which are processed at the moment are BBC Campana, flying the flag of Antigua and Barbuda and Industrial Revoliution, flying the flag of Liberia. They are specialized in the transport of heavy and oversized cargo. Over 3.6 mln tons of cargo was handled in the port until May this year, which is 15% more compared to the same period last year. A major share of this amount occupy cereals and loads of Devnya chemical plants.
Source: investor.bg (12.09.2015)

Ports granted at concession for 99 years Bulgarian ports may be granted at concession for a period of 99 years, said the Minister of Transport Ivaylo Moskovski during conference "Strategic infrastructure investments in Bulgaria related to Europe 2016". On April 15 the new European Directive on concessions enters into force, which will be applied in the country with a new law, with introduction in the National Assembly. The future law will significantly expand its scope of action, the current maximum concession period of 35 years, will be eliminated. This will enable ports, airports, highways, railways and other infrastructure, public state and municipal property, to be awarded for 99 years. The terms of the concessions in the future will be able to compare the type, scope and volume of each particular site, which will allow for more flexible relations between the state and concessionaires to achieve mutually beneficial conditions and effective cooperation, said Transport Minister. One of the first sites that will be granted at concession under the new law will be the ports of Vidin-south and Rousse-west, whose preparation is in the advanced stage. In the second half of the year will start preparing for the concession of the port of Varna, preparations for the concession and Port Rousse East is underway as well.
Source: Standart (31.03.2016)

Bulgaria, Slovakia Agree to Work for Building Eastring Gas Pipeline Bulgaria and Slovakia have signed an agreement for future gas supplies to the Balkan country via the proposed Eastring pipeline. Under the memorandum of understanding signed by the respective gas pipeline operators of the two countries, Bulgartransgaz and Eustream, in Sofia on Thursday the two companies will work jointly to provide EU financing for the project as well as test market interest in the pipeline. Eastring had been proposed by Slovakia after the suspension of the South Stream project, which would have brought Russian gas to Europe via a pipeline under the Black Sea coming ashore in Bulgaria. The proposed pipeline is among the priority projects for financing under the European Commission investment plan for Europe. The pipeline would link Slovakia with the Balkans and existing gas pipelines in Ukraine, Slovakia, Czech Republic, Hungary and Romania to the planned Balkan gas hub near Bulgaria’s Black Sea port of Varna. The project will give a boost to Bulgaria's objective to become a regional gas hub in the Balkans, which could help the country reduce its almost total dependence on imports of Russian gas via a single transit pipeline crossing Ukraine. Bulgaria’s Energy Minister Temenuzhka Petkova and Slovakia’s Economy Minister Peter Ziga attended the signing of the MoU which took place on the sidelines of the 14th Gas Infrastructure Europe Annual Conference in Sofia organised by Bulgartransgaz.
Source: actualno.com (10.06.2016)

A leading Chinese construction company signed a contract to expand the port of Varna China Machinery Engineering Corporation (CMEC), China's largest construction and machinery company, signed a EUR 120 mln deal with Logistics Center-Varna EAD for joint development of a new infrastructure in the port of Varna, the largest in Bulgaria. This is the first port project of the Chinese company in Bulgaria. CMEC, owned by the state-controlled China National Machinery Industry Corporation (Sinomach), will be responsible as the main contractor for project optimization, materials delivery, construction and installation. The total project duration is expected to be three years. This is the first port construction project, invested by a Chinese company in Bulgaria, and is a project for infrastructure and connectivity in Central and Eastern Europe at Beijing's initiative ‘One Belt, One Road’.
Source: National radio (24.04.2019)

For the year the investments in Port Varna exceed 20 million leva Over 20 million leva are realized investments in Port Varna JSC in the last 12 months, the press service of the company, which on May 18 celebrated its 113 anniversary, announced. Investments in new equipment and renovation of the existing one are about BGN 16 million. The remaining funds have been spent on rehabilitation of the port infrastructure. Among the company's new acquisitions are two mobile port cranes, increasing the efficiency of handling all types of cargo. A number of port warehouse facilities have been renovated in the two terminals of the port. The repairs allow to increase the amount of stored goods, which increases the company's competitiveness. The port already has all the necessary permits under the new Community customs legislation. This will allow the management to work to develop the functioning container terminal and to attract project loads.
Source: 24 chasa (20.05.2019)

The project to deepen the port of Varna from the current 11.5 to 13.5 m is not being done in the private interest of Varna TPP, said Transport Minister. The project to deepen the entire territory, which covers the two bays - Varna and Beloslavsky, together with the canal over which Asparuhov Bridge is situated, will cost up to BGN 350 million, with money allocated from the budget. For the implementation of the project are planned BGN 200 million for this year, and next year another BGN 150 million. After the completion of the project ships with tonnage up to 60-70 thousand tons will be able to enter the port, while the current conditions allow vessels up to 30-35 thousand tons. There are about 17 ships in the area, although the place allows up to 100, and at the end of Beloslav Lake are the terminals of Devnya Cement, Solvay Sodi and Agropolychim, whose freight turnover is the main one.
Source: 24 chasa (12.11.2019)

Concessionaire Increases Investment and Turnover at Port Lesport The Concession Grant Agreement for the Lesport Port Terminal, which is part of the port of public transport of national importance Varna, signed on June 8, 2005, has been amended. The changes extend the term of the contract to the legally permitted term of the Concessions Act, as well as investment obligations and the basic annual turnover for the duration of the concession. Port Lesport JSC was established on March 15, 2005 by a decision of the Varna District Court. The main shareholder in the company, which holds 99% of the capital, is Chimimport JSC. In May 2005, a one-stage non-attended competition for the selection of a concessionaire at the Port Lesport, part of a port for public transport of national importance - Varna, was held. With a decision of the Council of Ministers, Port Lesport JSC was selected as a concessionaire at the port, part of a port for public transport of national importance - Varna. On June 8, 2005, a Port Concession Agreement was signed for a period of 30 years. The concession contract entered into force on 30 May 2006.
Source: Banker (13.01.2020)

D Bank is ready to lend BGN 22 million to Ahmed Dogan's TPP Varna The renovation of the TPP Varna controlled by Ahmed Dogan and Danail Papazov is secured with a new BGN 22 million loan resource from D Bank. The loan agreement is dated February 26, but it is only now visible from a pledge entered in the Commercial Register on the plant and its assets in favor of the bank, which is owned by Fuat Guven. The amount is probably for the ongoing renovation of the units of the TPP, which, after being acquired by the politicians from the MRF, earns, without being operational, from cold reserve contracts with the state Electricity System Operator. However, there is no official information on whether the loan has been used. TPP Varna itself was sold at the end of 2017 by CEZ to Sigda, a company owned by the family of former Transport Minister Oresharski's cabinet Danail Papazov. The deal was then financed with a EUR 24.225 mln loan from First Investment Bank. Months later in 2018, the honorary chairman of the MRF, Ahmed Dogan, bought a 70% stake in Sigda for about BGN 1.5 million, according to Papazov.
Source: Capital (27.05.2020)

Covid-19 reduced the revenues of the Port of Varna by 13% The Covid-19 pandemic reduced the revenues of Port of Varna SPJSC in the first half of the year by 13%. This was announced by the executive director of the company eng. Petar Seferov. From the beginning of the year to June 30, 2020, 3.38 million tons of cargo were handled in the port, 50.3% of which were bulk, 12.19% - general, 10.62% - liquid and 26.89% - containerized cargo. Compared to the first half of 2019, 388 thousand tons less cargo was handled in the Port of Varna, which is a decrease of 10.3%, with a significant decrease in the handling of bulk cargo (-17.8%), containers (-14%) and general cargo (-5.5%). "The reason for all this is the crisis caused by the spread of Covid-19, as a result of which our main customers, such as factories in the Devnya region, worked at reduced capacity. The decline in container turnover is global trend during the current crisis ", summarized eng. Seferov. The reduced volumes of processed cargoes are the main reason for the contraction of the port's revenues from the activity by 13% compared to the first half of 2019.
Source: economic.bg (28.07.2020)

The state's care for Port Dogan has not stopped The past year will be remembered for the constant care of the state for the construction of an attractive port infrastructure in Varna-Beloslav Lake, in the middle of which is the port of Ahmed Dogan. On Wednesday, December 22, the government authorized the implementation of hydraulic engineering activities to deepen the two routes (canals 1 and 2) on which vessels are moving. The activities will be carried out by the state company Transport Construction and Reconstruction SPJSC, and the working period is 510 days. This is another decision of the cabinet to modernize the water corridor. Earlier in the year, excavation activities with different deadlines were allowed three times, and there was another permit - to work on improving one of the quays of Varna-West and restoring the design parameters in front of the walls of the Lesport terminal. It is likely that different types of activities require separate government acts, which is why the ministers have dealt with the case several times. The project for the water corridor through the lake is worth a total of BGN 350 million. It will benefit all surrounding ports, including the state-owned Varna Port. The idea for the deepening is very old, but money was found only after Dogan appeared as the owner in the area at the end of 2018.
Source: Sega (23.12.2020)

Revenues of state ports decreased slightly in the first half of the year Revenues of the state port of Varna shrank by 7.3% in the first half of 2021 compared to the same period a year earlier. This is shown by the interim report on the company's activities. The company's loss increased significantly - by 54.5%, from the negative BGN 2.6 million to BGN 4.1 million. There was a decrease in revenues at the port complex of Ruse - by 4.7%. There is also a deterioration in the financial result, although in April the company was paid BGN 83 thousand of the receivables received from CCB. However, there is an absolute increase in the quantities of cargo on the river and the state port - 24%. There is a slight decrease of 1.2% in the state company Port of Bourgas, which has very limited functions after the concession of its main terminals from BMF Port Bourgas. It has revenues for the first half of the year of BGN 2.4 million. However, the company managed to reduce its loss from BGN 447 to BGN 363 thousand.
Source: Capital (14.09.2021)

Over BGN 5 million cargoes have passed through the terminals of "Pristanishte Varna" EAD since the beginning of the year, with nearly 1 million tons of the total amount being grain. The growth compared to 2021 is 33%, and for Varna-East it reaches 150%. His warehouses are currently full. Some of them are busy with coal and coke, the volumes of which are growing, but their shipping is slow. Therefore, opportunities are being sought for the expansion of warehouse holdings in three steps - up to one, two and three years. The goal is to expand the capacity by more than 120,000 cubic meters, and the port's cargo turnover by more than 1 million tons. For its implementation, an increase in the number of operating departments, optimization of administrative structures and the purchase of new production equipment are expected.
Source: Trud (26.07.2022)

The rehabilitation of the breakwater in Varna continues The second stage of the repair of the breakwater at the Port of Varna - East is continuing, a Maritime.bg reporter saw. Work continues now, as activities were banned by mayoral order for the duration of the active tourist season. For the rehabilitation of 463 meters of the facility, BGN 14 million was allocated by the State Enterprise "Port Infrastructure". The construction and installation works include the creation of a strengthening and protective berm with tetrapod armor, a layered support stone prism of fractional rock mass, underwater mattresses (gabions) to strengthen the bottom and filling of existing breakwater boxes with rock mass in front of the breakwater.
Source: Other (05.12.2022)

Bulgaria proposes that the ports in Ruse and Varna be additionally equipped Bulgaria has proposed to the EU projects for the additional development of the ports in Ruse and Varna, in order to increase the possibilities of providing logistical assistance to Ukraine, announced acting Deputy Prime Minister and Minister of Transport and Communications Hristo Alexiev. An option is being developed for the use of the ferry complex in Varna as well. Since April, the "Bulgarian River Navigation" steamship has helped with the transportation of about 200 thousand tons of grain. The country provides diesel fuel for the needs of farmers in southern Ukraine. Alexiev announced that Bulgaria managed to obtain the necessary support in the Council of the EU for the inclusion of Corridor 8 in the main European transport network. According to him, this is a serious success for our country. The Deputy Prime Minister specified that the corridor is expected to be built by 2035, and today's decision facilitates the financing of projects in Albania and North Macedonia.
Source: BTA (06.12.2022)

"Port of Varna" EAD realizes record revenues for 2022. "Port of Varna" EAD realized record revenues for 2022, it is clear from the answers of the Ministry of Transport and Communications. "Pristanishte Varna" EAD, which operates the two port terminals - "Varna - East" and "Varna - West", has generated for last year BGN 73.09 million, according to the report. These preliminary annual results are a record for the state-owned company, the transport ministry emphasized. The expected profit for last year amounts to over BGN 9.1 million, according to MTS. 8.5 million tons of cargo passed through the company's terminals.
Source: 24 chasa (06.03.2023)

The permit for the pipeline in Lake Varna has been delayed for a year The issuance of a permit by the Ministry of Internal Affairs and Communications for the use of a surface water body was delayed for one year. The document, which is ready, is needed to complete the procedure of laying the pipeline under the bottom of Varna Lake in the part of the fairway. A market consultation is to be held to determine the estimated value of the public contract for construction and installation works, then the announcement and conduct of an open procedure under the Public Procurement Act for the selection of a CMR contractor, construction supervision and conclusion of contracts. Implementation of the CMP will then proceed if funds are secured. Since the pipeline is located at the bottom, the DPPI cannot complete the project "Design and deepening of channel ¹1 and channel 2, Port of Varna-engineering", in which deepening of channel 1 is carried out.
Source: 24 chasa (16.03.2023)

The ports in Varna and Burgas - alternatives to overland cargo traffic from Asia to Europe Bulgarian ports are an excellent alternative for the growing land traffic of goods from Asia to Europe, said the Deputy Prime Minister and Minister of Transport and Communications Hristo Alexiev at a meeting with a delegation of the Abu Dhabi Ports Group company. The cluster is exploring the possibilities of participation in the ports of Varna and Ruse, as well as in other transport objects and projects. The Middle Corridor project from Asia through the Bulgarian Black Sea ports is an excellent alternative to both the Northern Route through Russia and the Bosphorus. The ports in Varna and Burgas have enough free capacity, he added. The potential of the route will be enhanced after the implementation of a project that will provide rail connectivity between the ports in Northern Greece and the Bulgarian ports of Burgas, Varna and Ruse. Abu Dhabi Ports Group representatives were adamant that it is very important for them that logistics use the opportunities of intermodal transport. Abu Dhabi Ports Group operates 36 ports in Europe, Asia and Africa and has over 100 ships. It owns and operates in industrial zones with an area of 550,000 square km, which is four times more than the territory of Bulgaria. Their potential investment in Bulgaria would turn our country into a transport hub in the Balkans.
Source: National radio (16.05.2023)

Port of Varna is investing BGN 40 million to modernize its terminals over the next three years "Port of Varna" will invest BGN 40 million of its own funds for the modernization of its terminals over the next three years, announced the executive director of "Port of Varna" EAD Ivaylo Gavrailov. The investment will improve the material base in the "Varna - East" and "Varna - West" ports. In "Varna-Iztok" closed type warehouses - silos with appropriate lanes will be built to avoid dust and to be able to load ships in a modern way. For "Varna - West" port, the technological processes for processing grain will be changed. Five silos have been licensed for receiving cargo under customs control, which will allow receiving transit grain, the director of the port also said, expressing expectations that serious ship loading norms will be achieved.
Source: National radio (29.09.2023)

A new grain terminal is operational at the port of "Varna-zapad" A new grain terminal at the port of Varna is already in operation. The first stage of an investment of over 25 million euros has been completed. Through a new specialized processing system for grain at the port terminal "Varna-zapad" (about 30 km. west of the city of Varna), the first ship with wheat has already been processed. The system was put into operation as a result of an investment partnership between the companies "Port of Varna" EAD and "Grain Terminal Varna-zapad" AD. It represents a set of technological innovations and infrastructure solutions that are expected to improve the efficiency and competitiveness of both companies and of customers and traders from across the region. The newly introduced handling system enables loading rates of 450 tonnes per hour or around 10,000 tonnes per day at one operating point. The first stage of the investment involves upgrading the loading process by using a specialized grain loading machine "Ship loader", technological conveyor belts and aerial conveyors, combined with the newly built infrastructure for receiving, automatic sampling and storage of grain, thus providing optimal conditions for loading ships and processing grain with high productivity and accuracy through environmentally friendly technology. Within 12 months, it is expected that new complex technological equipment will be put into operation, which will allow a double increase in the loading rates of the specialized facilities, with the ship's loading rate reaching over 20,000 tons per day. The terminal's overall capabilities will allow the parallel specialized handling of several grain vessels to handle over 35,000 tons of total exports per day. To date, a storage capacity of 100,000 tons of grain has been built. After completion of the investment processes, it will be possible to process more than 2 million tons of grain per year at the Varna-West terminal alone.
Source: news.bg (10.10.2023)

IMF: State-owned companies in Bulgaria are expensive, inefficient and carry risks for everyone Large companies with state participation in Bulgaria have low profitability and inefficient allocation of resources, and although they are not significant in terms of share, they play a decisive role in the production network, which can negatively affect the productivity and competitiveness of the entire economy. The level of state-guaranteed debt of state-owned enterprises is small - on average only 0.5% of GDP in 2010-21 (the average level in the EU is 9%, and in other countries of Central and Eastern Europe it is 3.5%). And the support with such guarantees due to the COVID-19 pandemic was many times lower - 0.3% of GDP in Bulgaria compared to almost 2% in the EU for 2019-2021. But there is a key point - there is no generalized information on guarantees in Bulgaria, issued by the state-owned enterprises themselves, since their activity does not require the approval or supervision of the Ministry of Finance. Thus, total liabilities averaged around 12% of GDP in 2013-2021, which could be a source of concern. This is stated in the Analysis of the International Monetary Fund "Fiscal risks of state-owned companies". The analysis is based on data from 15 companies in which the authorities at various levels have over 50% share: Energy sector (National Electric Company (NEK), Kozloduy NPP, Bulgargaz, TPP Maritsa Iztok 2, Electricity System Operator, Bulgarian energy holding (BEH), Mini Maritsa Iztok, "Bulgartransgaz"), Transport sector (National Railway Infrastructure Company (NRI), BDZ - Passenger Transport Ltd., Air Traffic Control (RVD), Transport Construction and Reconstruction (TSV), BDZ - Cargo Services Ltd., Port of Varna, Bulgarian Port Infrastructure). The total assets and liabilities of these 15 companies represent about 70% of the total for the entire segment with state participation 2015-2021, which covers about 700 companies. The general assessment for them is that the fiscal support is much higher than what they give as revenues to the budget. In 2017-19, they received subsidies, capital investments and capital transfers (direct support) and deferred tax and dividend exemptions (indirect support) of an average of 1.5% of GDP. To this they have responded with a contribution of 0.2%. Net, they absorbed 1.3% of GDP immediately before the pandemic and at the end of the last GERB government. In the first pandemic year (2020), this ratio became 2.5% against 0.1% and is an illustration of how an unexpected shock can lead to large fiscal costs for companies with state participation, the IMF says. These are companies in which 4.1% of all employed work. Their financial stability can affect the fiscal performance of the state, especially when they have incurred potentially significant costs, whether expressly guaranteed or without the authorities making a contractual commitment. In 2023-2024, the state doubled the dividend collected by these companies from 50% to 100% to support the budget, but the price for this is a risk to their investment, productivity and profitability. "Furthermore, the dividend policy lacks predictability and seems to be driven by the needs of the state budget. Such a policy reduces the incentives of companies to invest and thus has a significant adverse effect on economic activity," the authors of the report add. State-owned companies are much, much less profitable than those in the private sector. Return on assets (one of the key measures of profitability) was between minus 1% and 2% for the period 2015-2021, with an average of 10% in private. In 2022, this difference suddenly melted (9% for state-owned, 11% for private), but not because there was better management, but because of three specific companies - NEK, Kozloduy NPP and Maritsa Iztok 2 TPP, and their income from sharply increased energy prices due to Russian aggression against Ukraine. Return on equity (another measure of profitability, measuring a firm's ability to generate profits using its shareholders' capital) for SOEs is on average 20 percentage points lower than that of private firms. Due to the specifics of many state-owned enterprises, profitability is logically lower than that of private ones, but in countries with better management results, the difference between them is 4 percentage points or five times smaller than in Bulgaria, the IMF recalls .Everyone suffers from the bad management of business with state participation. Six state-owned enterprises have been facing short-term challenges in meeting their obligations for years. In the period 2015-2022, without sufficient liquid assets to cover the amounts due to creditors in the next 12 months were National Railway Infrastructure Company, TPP Maritsa Iztok 2, National Electric Company, BDZ - Passenger Transport, BDZ - Freight Transport and Transportation Construction and Reconstruction. Bulgargaz faced a liquidity crisis in mid-2022 due to low collection of receivables and arrears from Toplofikatsia Sofia. Accumulated arrears to suppliers were paid through a (bridging) loan and/or state aid. Another indicator of concern to IMF analysts is the high debt-to-asset ratio (ie, less financial flexibility) of several large state-owned enterprises. These are, for example, "Bulgartransgaz", National Railway Infrastructure, Bulgarian Energy Holding and Electric Power System Operator. It has also seen how debt-to-asset dynamics can change sharply - in the case of Bulgargaz, it jumps from around 45% in 2019 to over 90% in 2022. The combination of high debt and low profitability raises concerns for the ability to service the debt and therefore risks at the fiscal level, the IMF explains.
Source: Dnevnik (18.07.2024)

The Ministry of Transport is preparing a concession for "Ferry Complex - Varna" Port terminal "Ferry Complex - Varna" will be given to a concession. The preparation and opening of a procedure for determining a concessionaire and awarding a concession is pending, but it was not specified what this preparation would include and when such a procedure could start. Railway services are provided by "BDZ - Freight Transport", and port services - by the State Enterprise "Port Infrastructure". The railway activities, making up the majority of the services provided to the Ferry Complex, are provided by "BDZ - Freight Transport". The port terminal "Ferry Complex - Varna" has been issued a certificate of operational fitness since February 5, 2021. Port services on the territory of the Ferry Complex can only be provided by a registered port operator, in this case the State Enterprise "Port Infrastructure". Its importance is huge for the Varna region, as it performs a specific transport service - serving incoming and outgoing freight flows with wagons with gauges of 1520 mm and 1435 mm. The ferry complex has two berths equipped with drawbridges with five tracks each, a pre-ferry park with 21 tracks, a workshop for changing bogies, a transshipment point with an open platform, covered and open ramps, a number of storage areas.
Source: economic.bg (15.08.2024)

In 2023, the number of cargo and passenger ships calling at the main EU ports was 2.2 million, an increase of 1.5 percent compared to the previous year, Eurostat reports. The largest number of vessels – 477,115 – were called in Greece, followed by Italy (449,131 vessels) and Denmark (322,230 vessels). On the other hand, Slovenia (1,760 vessels), Cyprus (2,090 vessels) and Bulgaria (2,851 vessels) reported the smallest number. Compared to 2013, 12 out of 22 member states reported growth in the number of vessels they serve. The largest increases were registered in Malta (100.8 percent), Croatia (40.3 percent) and Spain (31 percent). The largest declines were recorded in Finland (26.6 per cent), Latvia (24.3 per cent) and Bulgaria (21.2 per cent). In 2023, the average gross tonnage of vessels berthed in the main EU ports was 8,058 tonnes, which was 5.2 per cent more than in 2022 (7,662 tonnes). Compared to 2013, the average volume of vessels increased by 18.1 per cent. Belgium reported the largest average volume of vessels at the main ports in 2023 (32,446 tonnes), followed by Slovenia (29,578 tonnes) and France (29,173 tonnes), while the lowest average gross tonnage was recorded in Croatia (1,533 tonnes), Greece (3,264 tonnes) and Denmark (3,573 tonnes). Compared to 2022 Italy recorded the largest average increase in the volume of vessels calling at ports (25.6%), followed by Bulgaria (15.4%) and Romania (14.6%), while Malta (6.1%), Denmark (3.8%) and Latvia (1.6%) had the largest decreases. A total of 19 Member States recorded an increase in the average volume of vessels compared to 2022, with the number reaching 20 when compared to 2013.
Source: BTA (29.01.2025)

A huge cargo ship with 58 thousand tons of goods arrives in Barna One of the largest cargo ships in the world will dock at the Port of Varna for the first time. It is of the Panamax class and will deliver 58 thousand tons of rapeseed to Bulgaria. The cargo comes from Canada and is intended for the largest processor of oilseed crops in our country - "Oliva" AD. The rapeseed was produced in Canada and will be processed in the factories of the Bulgarian company. The import is carried out from there, due to the lack of raw material in our country and the restrictions on imports from Ukraine. In Bulgaria, the processing capacities for sunflower into oil, peeled seeds and meal are for over 4 million tons per year, and even in the best agricultural years, the annual production of sunflower in our country was not enough for full capacity utilization, commented by "Oliva". Therefore, the processors import sunflower from other countries - mainly from Ukraine, which is the largest producer in the world.
Source: money.bg (14.04.2025)

Record cargo turnover at the port of "Varna-West" A record cargo turnover of over 845,000 tons was processed at the Varna-West port terminal in May 2025, the operator Port of Varna EAD announced. Since the beginning of the year, a total of 3 million tons of cargo have passed through the terminal, which is a growth of 12% compared to the same period in 2024. There has been an increase in grain cargo by 200% compared to the previous year. Currently, the cargo turnover is nearly 600 thousand tons in both the "import" and "export" directions. The Varna-West grain terminal, which was put into operation in 2024, contributed to the achievement of the set goals. After the completion of the installation of the new technological equipment at the 15th berth of the port terminal, the grain processing capacity will amount to over 2 million tons per year. The revenue of "Port of Varna" amounts to over 83.5 million leva in 2024, which is a decrease of 1.5 million compared to the previous year. Its profit also decreases to 8.3 million leva from over 14.6 million leva in 2023. The main reason for this is the increased costs for external services and salaries. The capital of "Port of Varna" EAD amounts to nearly 8.5 million leva. The company is managed by a 5-member Board of Directors. Its Chairman is Tihomir Iliev Todorov, and the Deputy Chairman is Alexander Miladinov Alexandrov. The other members of the Board of Directors are Friedrich Katzer, appointed by the Minister of Transport, and Kiril Vassilev Karagyozev, appointed after a competition as a representative of the state. The fifth member of the Board of Directors is Ivaylo Slavov Gavrailov, who is also the Executive Director of "Port of Varna". He has held the position since June 2022 after a competition. The company employs 1,245 employees, with liabilities to personnel amounting to nearly 4 million leva by the end of 2024. Total personnel costs amounted to over 51.2 million leva last year. This means that the gross average salary is over 3,400 leva. The remuneration of key management personnel amounts to 456 thousand leva, which is an increase of about 50,000 leva compared to 2023.
Source: mediapool.bg (06.06.2025)

Four projects worth 7 million euros will develop the intermodal terminals of Varna and Burgas Four intermodal terminals are receiving nearly ˆ7 million in EU funding for their modernization. The approved projects are worth a total of ˆ17.6 million, over ˆ10 million of which will be provided by the companies. Three of the operators are private companies. One is owned by businesswoman Tsvetelina Borislavova, another by Vladimir Kyurkchiev, and the third is owned by the public company Industrial Holding. The fourth operator is the state-owned company Port of Varna. The approved projects provide for the purchase of equipment and modernization of the rail track of some of the ports. The financing is under the Transport Connectivity Program 2021 - 2027 under the procedure Support to Intermodal Operators, Including Development of Existing Terminals. The largest approved project for over 6.4 million euros is for the state-owned company Port of Varna EAD. Of these, over 2 million euros are European grants, and the rest are provided by the state. The funds will be used for the supply of equipment and rehabilitation of the railway for access to the Varna-West port terminal, which over the years has established itself as the "container gate of Bulgaria". The port is used mainly for grain cargo. The terminal also has universal ship berths for handling heavy and oversized cargo, including individual elements of wind turbines, transformers, pipes, specific single project cargo, is indicated on the company's website. Port Terminal "PCHMV-Varna" will purchase a new mobile crane for nearly 5 million euros, of which the European grant is slightly over 2 million euros. The terminal operator is the private company "Maintaining the cleanliness of sea waters" AD. Its actual owner is Vladimir Dimitrov Kyurkchiev. The company is engaged in maintaining the cleanliness of sea waters, port areas, cleaning up oil and oil product spills. PCHMV Port is located on the northern shore of the entrance to the Varna Lake channel. It handles general, bulk cargo and containers, has a terminal for base oils, as well as for receiving oil-water mixtures from ships. Over 4 million euros will be invested in the rehabilitation of the railway, the construction of a charging station and the modernization of the "Dolno Ezerovo" terminal in Burgas. The intermodal terminal is located 15 km from the port of Burgas and connects the Dolno Ezerovo railway station with the Plovdiv - Karnobat - Burgas highway. It is owned by the company "Despred" AD, whose actual owner is the banker Tsvetelina Borislavova. The terminal has a specialized container yard for storing 4,000 containers, as well as a mobile truck crane for handling cargo. The company is engaged in logistics and forwarding and offers transport to Georgia, Armenia, Azerbaijan, Iran and the Middle East, as well as combined intermodal transport. The smallest project is the supply of equipment for about 1.7 million euros for "KRZ Port Burgas". The grant it will receive is 885,558.71 euros, which is half of the project's value. "KRZ Port Burgas" AD is a subsidiary, part of the portfolio of the public company "Industrial Holding Bulgaria" AD. It was established in 1974, as part of The former DSO "Fishery" with its main activity being ship repair services for the Bulgarian fishing fleet. Today, its activity is as a public transport port of regional importance and operator.
Source: mediapool.bg (19.02.2026)