Navibulgar (NMB), Bulgaria's national maritime fleet, has asked the transport ministry to approve a EUR 71.5m loan from HSH Nordbank AG for the purchase of 3 new vessels and the refinancing of a prior Nordbank loan, said the Bulgarian stock exchange. In December 2004, NMB signed a 2-year EUR 10m loan agreement with Nordbank and refinanced a USD 64m loan from ING Rotterdam. The fleet needs new vessels but careful consideration should be given to the implications that this new loan would have on the future privatisation of NMB, said transport minister Petar Mutafchiev. The privatisation strategy for NMB has not yet been reviewed by the government due to upcoming changes to the Privatisation Act.