Sun, Nov 22 2009

Bulgarian shipping co Navibulgar to axe 26% of sailing workforce

Mon, Mar 16 2009 13:02 CET byDnevnik.bg 1791 Views
Bulgarian shipping co Navibulgar to axe 26% of sailing workforce

Photo: Nadezhda Chipeva

Bulgarian fleet operator Navibulgar will reduce the number of sailors by more than 26 per cent over the next four months, the company’s executive director Hristo Donev told Dnevnik.

The firm will make redundant 719 sailors, out of the 2700 it employs, in a bid to streamline costs.

The sailors being cut will be offered jobs at Navibulgar subsidiary Neptune Manning, which is now being licensed, Donev said. The privatisation contract bans owner KG Maritime Shipping from firing sailors.

The staff move is triggered by the global financial crisis which took a serious toll on the shipping industry and by the excessive number of mariners, according to Donev. A further factor is Navibulgar’s plans to take vessels older than 30 years off the sea.

Under pressure in the current financial storm, in November the fleet operator downsized sailing staff by 17 per cent. The recession will force many shipping companies in Bulgaria and the region to go out of business or abandon vessels. Firms in the Black Sea city of Varna warned that some companies will have to sell part of their fleet for scrap and lay off the crews of others.

Source: Dnevnik

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