The local entity Advance Properties will partner  Germany  ’s charter firm Маrtrade Shipping Transport in the privatisation bid for 70% of the state sea shipping company Navibulgare. Advance Properties holds 30% of the consortium KG Maritime Shipping, which has filed a bidding request to the privatisation agency. The major stake of 70% in the consortium is held by the German company. Only two other potential candidates have submitted requests for participation in the tender -- Greece ’s Chartworld Shipping Corporation and  India  ’s Essar Shipping&Logistics – although 23 have purchased tender documents. The candidates should receive registration certificates by the privatisation agency for meeting all bidding requirements for strategic investor or consortium led by a charter firm. The privatisation agency will wrap up the certification process by Oct 19 and will accept preliminary offers by Nov 8. Advance Properties is owned by two local physical persons – Iavor Iliev and Svetlin Stoinev. The net asset value of Navibulgare indicates that the price offers for the 70% stake should exceed EUR 350mn but the weak competition may result into disappointing price and investment commitments and eventually in a new privatisation tender.