Navibulgar, Bulgaria’s state-owned maritime shipping company, posted a total of BGN 926,000 net profit for the first half of 2001 on BGN 281,4 M revenue from core operations, Dnevnik Daily wrote, citing figures of the company. The company is on the list of privatization deals. Navibulgar plans to limit to a minimum its expenses, which would include curtailing its ship repair and logistics activities. According to Slavejko Vassilev, Chairman of the company’s board, the company will decommission 12 old vessels, which will be replaced by second-hand ships.