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   NAVIGATION MARITIME BULGARE

    1 Primorski Blvd., 9000 Varna, BULGARIA
    Tel.: +359 52 633 100; Fax: +359 52 633033; Tlx.: 77351
    WEB: www.navbul.com; E-mail: office@navbul.com

Company Introduction

Navigation Maritime Bulgare (Navibulgar) is the successor to a shipping company established in 1892. Its century-old tradition and experience in the shipping industry in compliance with international requirements and standards have turned the company into a leader on the shipping market in Bulgaria and in the Black Sea and East Mediterranean regions. Navibulgar is a member of the Bulgarian Delegation at the meetings of the International Maritime Organization (IMO), a member of BIMCO, BINSA, ICS, ISF, the Club 9000 Association, an associated member of INTERTANKO, a shareholder in INMARSAT and ICO - Teledesic Global Ltd. Navibulgar fleet includes over 80 vessels (77 cargo vessels and 5 auxiliary vessels), most of them bulk carriers. All vessels meet SOLAS standards for safety at sea and operate in compliance with the provisions of the US Coast Guard, Panama Canal, Suez Canal and St. Lawrence Seaway (Canada) authorities.

Navibulgar has been awarded ISM - ISO 9002 Quality Certificate. Company vessels meet the most recent requirements of ISPS Code certification and successfully operate on the international freight market.

The company offers a variety of options for the carriage of bulk, general and containerized cargo, ro-ro and ferry cargo, carriage of chemical and petrol products to all international trade destinations. It also operates intermodal ?door-to-door? services combining fast, flexible and reliable sea and land transportation of containerized cargo. Navibulgar also has its own auxiliary fleet for tug services and an independent Agency.

Navibulgar takes real pride in the barquentine Kaliakra, who has been awarded numerous prizes in various sailing regattas promoted by the International Sail Training Association, such as Cutty Sark, Tall Ship Races, Columbus 500 Race, etc. The barquentine is a training vessel for naval students and promotes the reputation of the company worldwide.

Company Mission:

- to ensure top quality shipping services for its clients;
- to be a leading sea carrier among the other companies in this industry;
- to maintain trust in its relations with various business partners;
- to promote high standards under the conditions of global competition;
- to follow the strategy of integrated company development.

Company Values: client orientation; social responsibility; teamwork; pursuit of efficiency and quality by continuous improvement of management and optimization of operational processes; timely introduction of and control over the strict compliance with all international shipping requirements and standards; active position on environmental protection.

Company Strategic Goal is to keep its extensive market presence by maintaining high quality standards, strong competitiveness and flexible management.

Personnel

NAVIBULGAR employs over 4,000 qualified staff, most of whom are directly involved in the Company shipping operations. The continuous improvement of the personnel qualification has always been among the Company top priorities and it is implemented through the daughter company, Bulgarian Maritime Training Centre. This modern centre, fully-equipped with simulators and other training facilities, delivers comprehensive training programmes for Bulgarian and overseas seafarers.

Company Structure

The Company Structure is based on the principle of divisions. The two main operational directorates have been established to cover the respective shipping services ? Tramp Shipping and Liner Shipping. The division structure ensures focusing the efforts on the individual market segments and applying various sub-strategies by taking into account the specifics and needs of the relevant market. The activities related to maintenance, repair, delivery of spare parts, fuel and consumables for the company vessels are covered by a separate Technical Directorate.

There are also various auxiliary units which support the main business activity of the company.