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Navibulgar secures USD 94m loan from Exim Bank of China

The largest shipping company in Bulgaria Navibulgar will receive USD 94m loan from Exim Bank of China for capital spending, SeeNews reported. The funds will be used to finance the construction of 6 new bulk carriers with 45k of tonnage each. The vessels were ordered in October of last year from the Chinese Yangzijiang Shipbuilding. Majority owner of Navibulgar is KG Maritime Shipping, which acquired 70% stake from the Bulgarian government in 2008 for BGN 780m.

Source: SeeNews; FFBH

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