site.btaShipping Companies Will Not Survive If They Do Not Adapt to Green Technologies, Says Chair of Bulgarian Association of Sea Captains

If the companies do not adapt their ships to the new requirements and eco-standards, they will drop out of the market, said Captain Stanislav Stoyanov, chair of the Board of the Bulgarian Association of Sea Captains, before the opening of the Global Compass International Forum on Thursday in Varna. 

There are already many new requirements for both ships and crews, noted Stoyanov, who added that there are more and more vessels that can use different fuels. "Autonomous ships move among the Finnish fjords, and the Scandinavian countries also rely on electric vessels", he pointed out. Options are also being sought for the use of hydrogen as marine fuel, while another option would be the use of wind as an aid by placing rotor sails, he said.

According to Stoyanov, the year 2025 will be decisive, as it will become clear which shipping companies will survive and which will drop from the market. He clarified that the Bulgarian companies, in particular Shipping Bulgarian Navy, have a modern fleet and are not in danger.

As a serious problem for business, Stoyanov pointed to the lack of sufficient personnel. He emphasised however that Bulgaria is known throughout the world for its maritime specialists and companies rely a lot on the officers produced by the Nikola Vaptsarov Naval Academyand the Technical University in Varna. He specified that business is doing its best to attract people, with wages in the sector constantly increasing. 

According to Stoyanov, the development of new technologies can increase the interest of young people in maritime specialties. He also strongly recommended young ladies to focus on maritime specialties as well.

The Global Compass International Forum will focus on the new trends in shipping and the maritime education, as well as the development of the entire blue economy. Participants will include representatives of international maritime organizations, business, and the academic community. The forum is organized by the Bulgarian Association of Sea Captains and is under the patronage of the Bulgarian President Rumen Radev, whose adviser on military security, Vice Admiral Mitko Petev, delivered a congratulatory address on behalf of the president during the opening of the forum. The co-organizer of the forum is Varna Mayor Blagomir Kotsev.