Borislav Mihov
CEO, Port Complex Lom Jsc

Interview by Ivan Dikov

Question: What is the approximate amount of goods that were transported through Port Svishtov in 2007? What types of goods are primarily transported through Port Svishtov?

Answer: In 2007 Port Complex Lom transported 1 451 516 tons of goods. In the first nine months of 2008 the Port processed 723 321 tons of goods compared to 1 117 742 tons for the same period of 2007. This is a decrease of about 40%.

Port Lom processes goods and materials such as metals, bricks, lumber, salt, machinery and equipment, loose goods, ores, coal, furnace coke, fertilizers, grain.

Q: Have you observed any changes (i.e. decrease) in the volume and type goods transported through Port Svishtov in the recent months - since July/August 2008?

A: The volume of goods transported so far in 2008 has declined primarily because of the troubles at the Kremikovtzi steel factory, and because of the dynamic changes of the prices of metal fixtures and metals on the global markets as a whole.

The volume of metals processed at Port Lom has declined by about 40% compared to 2007.

Q: What are your projections about the way in which the global financial crisis will affect the volume of goods transported through the port in the short and medium run? How alarming are the prognoses?

A: Our projections in the short and medium run are that the volume of transported goods is going to decline drastically because of the economic crisis and the issues with the Kremikovtzi metallurgic factory. I would say the prognoses for the coming months are rather alarming.

Q: Apart from the global financial crisis, what other specific factors or issues (such as the "Kremikovtzi" issue) do you believe could affect the volume of goods transported through Port Svishtov?

The steel-maker Kremikovtzi accounted for 47% of the goods and materials that we transported in 2007, and in this respect the prospects are very alarming.

Even if something is left of the production of the blast furnaces, it will most likely be only one blast furnace, and the volume of needed materials would likely decline by 70%.

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