Bulgaria Port Varna with 10% Smaller Freight Traffic in H1 of 2009

Business | July 18, 2009, Saturday // 16:38|  views

Port Varna has seen a 10% freight traffic decline in 2009 over the effects of the economic crisis. Photo by BGNES

Bulgaria's port of Varna has 10% smaller freight traffic in the first half of 2009 compared to the same period of 2008.

The data was announced Saturday by Danail Papazov, CEO of Port Varna, who said that the freight traffic till the end of June 2009 had been 3 million tons vs. 3,3 million tons in January-June 2008.

However, Papazov also stressed that the decline was not that shocking given the raging global economic crisis.

Port Varna's greatest decline in freight traffic has come from the factories in the nearby town of Devnya that produce cement and fertilizers as they had been forced to reduce their manufacturing activities. The Devnya factories have provided 50% smaller freight traffic.

At the same time, the processing of freight loads containing equipment for wind power stations has registered an increase of 250%, apparently as a result of the many wind energy projects under way in Northeast Bulgaria.

The greatest share of the freight volume that goes through Port Varna comes from grain and container trade. Yet, in the first half of 2009 the import and export of goods through container shipping declined by 14% compared to the same period of 2008.


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Tags: Danail Papazov, container trade, freight, Varna, Port Varna, Global Financial Crisis


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