Three out of 23 potential candidates that have purchased tender documents have sent bidding requests for 70% of the state sea shipping company Navibulgare, the privatisation agency informs. The line deadline expired on Sep 24. The three potential bidders are: KG Maritime Shipping (consortium led by Germany’s charter firm ??rtrade Shipping Transport), Greeece’s Chartworld Shipping Corporation, and India’s Essar Shipping&Logistics. According to unofficial information, a local firm linked to the country’s largest holding Chimimport is also present in the consortium led by ??rtrade Shipping Transport. 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. The weak interest the sea shipping company will most likely keep the price offer close to the net asset value of about EUR 500mn for the full stake or EUR 350mn for the 70% stake put for sale. The net profit of Navibulgare grew by 83.3% y/y to BGN 22.2mn (EUR 11.3) in H1 while its net sales increased by 3.1% y/y to BGN 215.3mn. Navibulgare is managing a commercial fleet of 71 vessels at an average age of 20 years and expects 3 news ships from the local producer Bulyard Shipping Industry.