NMB to buy new ships

NMB, Bulgaria’s national maritime fleet, will take out a $70 million loan from HSH Nordbank AG for the purchase of 3 new vessels, said executive director Hristo Donev.

The company is trying to address the problem of its ageing fleet and related high maintenance costs. NMB, which has decommissioned 5 ships over the past couple of months, has placed orders for 2 new vessels with local ship-builder Bulyard. One of them will be furnished as collateral for the Nordbank loan. The loan money will be spent on 2 to 3 new vessels or may opt to buy vessels under construction and sell them on.