Navibulgar secures Chinese financing for six newbuildings

Navibulgar secures Chinese financing for six newbuildings

Bulgarian owner Navibulgar has signed an agreement with China’s policy bank China Exim Bank for the financing of six newbuild bulk carriers.

Navibulgar placed an order for six 45,000 dwt handy bulkers at Yangzijiang Shipbuilding in October last year. The order includes four firm vessels and two optional vessels.

China Exim Bank will provide $94.017m in total to finance the six vessels.

The first four vessels are scheduled for delivery in 2019 and 2020 and to be named Midzhur, Plana, Malyovitsa and Buzludzha respectively.

Navibulgar is Bulgaria’s leading shipowner, operating a fleet of over 30 bulkers. The company is set to take delivery of two 42,300 dwt handy bulkers from Jiangsu Hongqiang Heavy Industry this year.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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