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)