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)