The tie-in between German-registered firm Martrade Shipping & Transport and Bulgarian KG Maritime Shipping said it plans to purchase between 20 and 25 new ships for the fleet of the Bulgarian state shipping company. "We will focus on Handysize and Handmax ships, which is the preference of our German partner," Kiril Domuschiev, representative of the consortium, said, as cited by Trud daily.
The German-led consortium made the only bid matching the criteria of the country's sale body for acquiring a 70% stake in the Navigation Maritime Bulgare (Navibulgar).
It offered BGN 440.1 M and vowed to invest more than BGN 779 M over the next ten years.
The tie-in said it is keen to buy the remaining shares, an option which according to the fleet privatisation straggly can happen not earlier than five years after the sale.
Although 24 firms and consortiums bought tender paperwork last year, only three had submitted preliminary bids for the initial 70% stake in the company.
Two of those bidders - India's Essar Shipping & Logistics, which runs Essar, and Greece's Chartworld Shipping Corporation - did not meet the government's criteria for previous shipping experience and financial clout.
Navibulgar ageing fleet includes 77 cargo ships, mostly bulk carriers with some container and tanker ships, according to its website.
The German-led consortium made the only bid matching the criteria of the country's sale body for acquiring a 70% stake in the Navigation Maritime Bulgare (Navibulgar).
It offered BGN 440.1 M and vowed to invest more than BGN 779 M over the next ten years.
The tie-in said it is keen to buy the remaining shares, an option which according to the fleet privatisation straggly can happen not earlier than five years after the sale.
Although 24 firms and consortiums bought tender paperwork last year, only three had submitted preliminary bids for the initial 70% stake in the company.
Two of those bidders - India's Essar Shipping & Logistics, which runs Essar, and Greece's Chartworld Shipping Corporation - did not meet the government's criteria for previous shipping experience and financial clout.
Navibulgar ageing fleet includes 77 cargo ships, mostly bulk carriers with some container and tanker ships, according to its website.