Offer of "Inter- Export" for Yugoslav River Shipping incomplete - another four companies in competition

- The bids on tender for sale of 69.99% of assets of Yugoslav River Shipping (YRS) have been delivered by five bidders, but one has been rejected as incomplete – Privatization Agency of Serbia announced.

Regular bids are delivered by Cypriot "East Point", owned by Serbian businessman Zoran Drakulić, Romanian "Transport Trade Services", the consortium made of companies "Palmali Shipping" and "Palmali Holding Company" from Malta and the consortium made of Cypriot "Tamoza Trading" and "Daxin Petroleum" from Singapore.

According to the announcement, Tender commission for privatization of YRS, of which first meeting lasted for about 50 days, rejected the offer of "Inter-export", which bought Belgrade-based shipyard "Brodotehnika" in bankruptcy on October 22, as incomplete.

Financial and legal advisors of the Privatization Agency will evaluate offers within 30 days. Tender documentation for YRS was also procured by Serbian company "Delta M", British "NAVICHART", Bulgarian River Shipping, UBA from Switzerland, Germany "Rhenus AG&CO", Russian "North Western Shipping" and Hungarian "Dunaffer Portolan", but they did not deliver bids prior to deadline – August 27, 2007.