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Navigation Maritime Bulgare AD

Summary

Company ID (NIN)

103002674

Company owner / manager

  • KG Maritime Shipping AD
  • State
  • Kiril Petrov Domuschiev
  • Georgi Petrov Domuschiev

Country

Bulgaria

Capital

109,021,000

Total assets

884,350,000

Net loss for the period

23,097,000

Report year

2020

Currency

BGN

Industry

Water Transport

Southeastern Europe Company Index (SEECI)

What is SEECI?

General information

About Navigation Maritime Bulgare AD

Navigation Maritime Bulgare AD is a Bulgarian maritime shipping company.

The company is specialised in the carriage of bulk, general and containerised cargo, ro-ro and ferry cargo, chemical and petrol products to various destinations throughout the world.

Navigation Maritime Bulgare AD holds:

  • an ISO 9001:2015 Quality management systems certificate, valid until Feb 22, 2021;
  • an ISO 14001:2015 Quality management systems certificate, valid until Feb 22, 2021.

Last updated on Oct 23, 2021.

Meta info
Status
Active
Legal form
Joint Stock Company
Incorporation date
July 16, 1992
NIN
103002674
Tickers
Stock Exchange
ISIN
Profile last updated
Oct. 23, 2021, 1:17 p.m.
Alternative names

    Navigation Maritime Bulgare JSC;
    Navibulgar AD (JSC);
    Parahodstvo Balgarski Morski Flot AD (JSC)

History

    May 22, 1950 – State-owned enterprise Balgarski Morski Flot is established. It is headquartered in Varna, northeastern Bulgaria.

    July 10, 1950 – The company renames to Parahodstvo Balgarski Morski Flot.

    Feb 17, 1966 – Parahodstvo Balgarski Morski Flot establishes its UK-based subsidiary Balkan and Black Sea Shipping Ltd, specialising in maritime brokerage and chartering.

    1974 – The company and Balkan and Black Sea Shipping Ltd. set up Balkan and Black Sea Shipping NV in Antwerp, the Netherlands. Parahodstvo Balgarski Morski Flot holds 5.0% of the shares of the newly established company.

    June 16, 1976 – Parahodstvo Balgarski Morski Flot is reorganised and is included within the state-owned company Stopansko Obedinenie Voden Transport - Varna.

    May 3, 1989 – The company transforms into state-owned DF Balgarski Morski Flot, which is the legal successor of part of the assets of state-owned company Voden Transport - Varna.

    Dec 7, 1989 – DF Balgarski Morski Flot, state-owned ship building company Varna Shipyard, Varna, state-owned geological exploration company DF Geozashtita, Varna, state-owned engineering company DF Devnia Invest, Varna, state-owned mining company DF Eskana, Varna, state-owned research institution Institut po Ribnite Resursi, Varna, state-owned research institution Nauchno-proizvodstveno Predpriyatie po Nauchno Pribostroene, Varna, the Technical University of Varna, state-owned engineering company DF Transproekt, Sofia and state-owned construction company DF Cherno More, Varna establish research company DF Tehnologichen Tsentar po Morski Resursi. DF Balgarski Morski Flot holds 17.39% of the shares of the company.

    Mar 6, 1991 – DF Balgarski Morski Flot establishes DF Pristanishte Varna, specialising in the Varna port operation. Later, in December, DF Pristanishte Varna transforms into a limited liability company Pristanishte Varna OOD and is excluded from the assets of DF Balgarski Morski Flot.

    Nov 8, 1991 – The port of Burgas transforms into a state-owned limited company Pristanishte Burgas OOD and is excluded from the assets of DF Balagrski Morski Flot.

    Nov 26, 1991 – DF Balgarski Morski Flot, Tsentar po Okeansko Inzhinerstvo OOF, Varna, and Institut po Voden Transport – Varna establish limited liability company Ekosistem Inzhenering OOD, specialising in marine research. DF Balgarski Morski Flot holds 18% in the newly formed company.

    Dec 6, 1991 – The company establishes its ship repair subsidiary DF KRZ Odesos in Varna. In December the same year DF KRZ Odesos transforms into a limited liability company Koraboremonten Zavod Odesos OOD and is excluded from the assets of DF Balgarski Morski Flot.

    July 16, 1992 – The company transforms into a state-owned joint stock company Parahodstvo Balgarski Morski Flot EAD (Navigation Maritime Bulgare EAD) and inherits all the assets of DF Balgarski Morski Flot.

    1992 - DF Balgarski Morski Flot, the UK-based Balkan Black Sea Shipping Co. Ltd. and local individuals establish recruitment company Neptun Menning OOD in Varna. DF Balgarski Morski Flot holds 40% of the shares of the newly established company. In November 1999, the company becomes the sole owner of Neptun Menning EOOD.

    Aug 3, 1994 – The company and Mollov-Finansovo Investicionna Grupa-Telekom EOOD establish telecommunication company BMF-Telecom OOD in Varna. Navigation Maritime Bulgare EAD holds 50% of the shares of the newly established company.

    Apr 20, 1995 – The company establishes the wholly owned Maltese subsidiaries: Aleksander Maritime Ltd., Trapezitza Maritime Ltd., Dikom Maritime Ltd., Kom Maritime Ltd., Bogdan Maritime Ltd., Persenk Maritime Ltd., Perelik Maritime Ltd. and Tsarevetz Maritime Ltd.

    Apr 28, 1995 - Navigation Maritime Bulgare EAD sets up a wholly owned Malta subsidiary Georgi Maritime Ltd.

    Apr 2, 2002 - Navigation Maritime Bulgare EAD acquires the assets of Varna Shipyard AD for BGN 35.5 mln in a public tender. This was possible as Navigation Maritime Bulgare EAD was one of the biggest creditors of the insolvent Varna Shipyard AD. In March 2004, Navigation Maritime Bulgare EAD and consortium Bulyard comprising Cyprus-based Bulcon Ltd., Bulgarian holding companies Industrialen Holding Balgaria AD and Electromachinery Holding AD, and Koraboremonten Zavod Odesos OOD, establish Bulyard Shipbuilding Industry AD in Varna. Navigation Maritime Bulgare EAD holds 100% of the shares of the company, which represent an in-kind contribution of the former Varna Shipyard assets. Later, during the same year Navigation Maritime Bulgare EAD sells 75% of Bulyard Shipbuilding Industry AD to Bulyard consortium for EUR 13.1 mln. In March 2007 the company sells the remaining 25% in Bulyard Shipbuilding Industry AD to Bulyard consortium.

    Dec 20, 2002 – The company establishes in Malta its wholly owned subsidiaries: Dolly Maritime Ltd., Plana Navigation Ltd., Vola Maritime Ltd., Veliko Tarnovo Shipping Ltd. and Pomorie Maritime Ltd.

    December 2003 – Navigation Maritime Bulgare EAD lists on the unofficial market of the Bulgarian Stock Exchange.

    Jan 4, 2008 – The company delists from the Bulgarian Stock Exchange (Stock Symbol: BMF).

    May 2008 – The Bulgarian Privatisation Agency selected German-led consortium KG Maritime Shipping to be the buyer of 70% of Navigation Maritime Bulgare EAD. The deal worth BGN 440.1 mln and is expected to be signed in mid-July 2008. KG Maritime Shipping comprises Germany's Maritrade Shipping + Transport GmbH and Bulgarian real estate company Advance Properties OOD.

    Aug 14, 2008 – The company is privatised, as the state sells 70% of it to German consortium KG Maritime Shipping.

    2011 - Navigation Maritime Bulgare AD becomes co-founder of a Georgian and Bulgarian companies with 35% and 50% shares, respectively.

    2017 - The company establishes eight subsidiaries on Marshall Islands and acquires a 100% stake in another Marshall-based company.

    Last updated on Oct 23, 2021.

Management

Board of Directors and Executives
Georgi Andonov Tashukov
Member of the Board
Zlatina Kostova Angelova
Member of the Board
Krasimir Hristov Valchev
Member of the Board
Aleksandar Yanchev Kalchev
Chairman of the Board and CEO
Supervisory Board
Kiril Petrov Domuschiev
Chairman of the Board
Georgi Petrov Domuschiev
Member of the Board
Asen Petrov Hinov
Member of the Board

Contacts

Address
1, Primorski Blvd.
9000
Varna, Bulgaria
Telephones

+359 52 633 100

Fax

+359 52 633 033

Emails

office@navbul.com

Websites
www.navbul.com

Ownership

Name Direct holding Indirect holding Owner type Country
KG Maritime Shipping AD 70.0 Company Germany
State 30.0 State Bulgaria
Kiril Petrov Domuschiev 35.0 Individual Bulgaria
Georgi Petrov Domuschiev 35.0 Individual Bulgaria

Subsidiaries and affiliates

Name Direct holding Indirect holding Country
Rousse Maritime Ltd. 100.0 Malta
Plovdiv Maritime Ltd. 100.0 Marshall Islands
Oborishte Maritime Ltd 100.0 Marshall Islands
Sofia Shipping Ltd 100.0 Mauritania
Ludogorets Maritime Ltd 100.0 Marshall Islands
Viden Maritime Ltd 100.0 Marshall Islands
Sredna Gora Maritime Ltd 100.0 Marshall Islands
Plana Maritime Ltd 100.0 Marshall Islands
Malyovitsa Maritime Ltd 100.0 Marshall Islands
Midjur 1 Maritime Ltd 100.0 Marshall Islands
Buzludja Maritime Ltd 100.0 Marshall Islands
Okolchitsa Maritime Ltd 100.0 Marshall Islands
Milin Kamak Maritime Ltd 100.0 Marshall Islands
UBG Agency LLC 35.0 Georgia
Persenk Maritime Ltd. 100.0 Marshall Islands
Veslets Maritime Ltd 100.0 Marshall Islands
Kom Maritime Ltd. 100.0 Malta
Trapezitza Maritime Ltd. 100.0 Malta
Sakar Maritime Ltd. 100.0 Malta
Vola Maritime Ltd 100.0 Marshall Islands
Alexander Maritime Ltd. 100.0 Martinique
Balkan and Black Sea Shipping Ltd. 100.0 UK
Dolly Maritime Ltd 100.0 Malta
Plana Navigation Ltd 100.0 Malta
Vola Maritime Ltd 100.0 Malta
Veliko Tarnovo Shipping Co Ltd 100.0 Malta
Stara Planina Shipping Ltd 100.0 Marshall Islands
Trapezitza Maritime Ltd. 100.0 Marshall Islands
NMB Air Ltd 100.0 Marshall Islands
Sofia Maritime Ltd 100.0 Marshall Islands
Rojen Maritime Ltd 100.0 Marshall Islands
Rila Maritime Ltd 100.0 Marshall Islands
Musala Maritime Ltd 100.0 Marshall Islands
Ruen Maritime Ltd 100.0 Marshall Islands
Murgash Maritime Ltd 100.0 Marshall Islands
Belmeken Maritime Ltd 100.0 Marshall Islands
Perelik Maritime Ltd 100.0 Malta
Kamenitza Maritime Ltd 100.0 Marshall Islands
Varna Ferry OOD 50.0 Bulgaria
Bogdan Maritime Ltd 100.0 Malta
Vitosha Maritime Ltd 100.0 Marshall Islands
Balkan Navigation Ltd 100.0 Marshall Islands
Osogovo Navigation Ltd 100.0 Marshall Islands
Lyulin Maritime Ltd 100.0 Marshall Islands
Belasitza Maritime Ltd 100.0 Marshall Islands
Rodopi Maritime Ltd 100.0 Marshall Islands
Persenk Maritime Ltd 100.0 Marshall Islands
Georgi Maritime Ltd 100.0 Marshall Islands

Products and services

Navigation Maritime Bulgare AD's main activities include:

  • tramp shipping;
  • container shipping – through the Bulcon service;
  • combined tonnage, tanker and chemical shipping;
  • ferry shipping – through the Ferrysped service.

Other auxiliary activities include:

  • shipping and forwarding services through the Naviagent service;
  • tug services;
  • bunkering services;
  • • passengers’ cruises for entertainment;
  • ship repairing;
  • crew recruitment;
  • annual inspection, survey and certification of inflatable life rafts;
  • accounting services in accordance with the rules of the International Telecommunications Union (ITU);
  • training services through Balgarski Morski Kvalifikatsionen Tsentar EAD (Bulgarian Maritime Training Centre EAD).

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