What Odessos does

Odessos Shiprepair Yard S.A. is a Bulgarian shiprepair and conversion facility headquartered in Varna, operating since 1955 on a ~320,000 sq.m. site with 1,953.5 m of berths, one graving dock (240m), two floating docks (165m and 232m), 17 cranes including a 100t floating crane, and a full suite of in-house workshops covering mechanical, steel, piping, electrical, blasting and painting, carpentry, vulcanizing, foundry and forging work. The yard can dock vessels up to 90,000 DWT and perform afloat repairs up to 150,000 DWT, positioning it as the largest and best-equipped Bulgarian shipyard and a recognized leader in the Black Sea and Eastern Mediterranean corridor.

The company generates revenue primarily from ship repair services (~90% of business) and ship conversion/retrofit projects (~10%), under a project-based, quote-driven pricing model. Customer engagement is sales-led, with a dedicated commercial department managed by the Executive Director, supported by an exclusive agency network (Octagone AS for Scandinavia since 2014 and Exeno Yamamizu Corporation for Japan since 2014). End customers are international ship owners and managers from Europe, Asia and the Americas, served via direct yard engagement. Certifications include ISO 9001, OHSAS 18001, and compliance with NATO Allied Quality Assurance publications, enabling work to classification society and defense-adjacent standards. Trade show presence (SMM Hamburg, Posidonia) and a multilingual website support top-of-funnel demand generation.

H1 2026 financials show revenue of €23.61M (down from €29.79M YoY) and net profit of €387K (down from €4.42M YoY), with 32 vessels repaired versus 34 in H1 2025, indicating recent contraction despite a 5,000+ vessel cumulative track record since 1955 and a 700-employee skilled workforce led by long-tenured Executive Director Dimitar Todorov (in role since 2003).

Name

Odessos

Legal name

Odessos Shiprepair Yard S.A.

Website

https://odessos-yard.bg

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Odessos Shiprepair Yard S.A. is a Bulgarian shipyard in Varna providing docking, repair, and conversion services for international commercial vessel owners, handling ships up to 150,000 DWT across the Black Sea and Eastern Mediterranean.

Ownership category

akta.pro rank

Product category

Ship Repair and Conversion Services

NAICS

Ship Building and Repairing (336611)

SIC

Ship & Boat Building & Repairing (3730)

akta.pro primary industry

Commercial Ship Repair & Drydocking (TLAKAKAA)

akta.pro secondary industries

Hull & Structural Conversion (Lengthening, Rebuilds, Life-Extension) (IMAJAFAB), Piping, Mechanical & Auxiliaries Repair (Pumps, Valves, Heat Exchangers, Boilers) (IMAJAFAE), Retrofits & Modernization (Scrubbers, Ballast Water, Alternative Fuels, Energy-Saving Devices) (IMAJAFAH), Emergency/Expeditionary Repairs & Afloat Maintenance (Voyage Repairs) (IMAJAFAK), Mechanical Systems Repair (Engines, Propulsion, Pumps) (TLAKAKAF), Electrical, Automation & Control Systems Repair (TLAKAKAG), Hull, Structure & Steelwork Repair (TLAKAKAE), Hull & Structural Repair (Steel/Aluminum, Plate Renewal, Coatings Prep) (TLAHAMAB)

Keywords

• Ship repair services
• Vessel docking
• Ship conversion
• Afloat repairs
• Shipyard maintenance

Headquarters

HQ city

Varna

HQ country

Bulgaria

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Ship Repair Services: Dry docking and afloat repairs for vessels up to 150,000 DWT. Core revenue stream with ship repair comprising approximately 90% of business.
2. Ship Conversion: Conversion projects including steel, piping, machinery, propulsion, re-engineering, retrofitting. Approximately 10% of business ratio.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Odessos Shiprepair Yard S.A. provides comprehensive ship repair and conversion services from its 320,000 sq. m. yard in Varna, Bulgaria. The core offering includes dry docking of vessels up to 90,000 DWT and afloat repairs up to 150,000 DWT, covering mechanical, steel, piping, electrical, blasting and painting, carpentry, technical, fire and safety, and storage operations. Ship conversion and retrofitting (steel, piping, machinery, propulsion, re-engineering) accounts for roughly 10% of business volume.

Product overview

Odessos Shiprepair Yard S.A. is a shiprepair and conversion company operating as a single integrated facility in Varna, Bulgaria. The company operates two main service lines: Ship Repair Services (approximately 90% of business) covering docking, mechanical, steel, piping, electrical, blasting and painting, carpentry, and technical work; and Ship Conversion services (approximately 10%) including propulsion re-engineering and retrofitting. The yard's infrastructure includes a 240m graving dock, two floating docks (No.2 at 165m and No.3 at 232m), 17 cranes including a 100t floating crane, workshops, wharves and berths spanning 1,953.5m. The facility can handle vessels up to 90,000 DWT for docking and up to 150,000 DWT for afloat repairs, making it the largest and best-equipped Bulgarian shipyard.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 5000 vessels docked from 1955 to 2017
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• Octagone AScoreChannel Partner/ Reseller/ Distributor · 1 January 2014Signed agency agreement with Octagone AS, Norway to serve as exclusive representatives for Scandinavia. Octagone serves the shipping industry worldwide and brings new customers from the Scandinavian region including Norway, Sweden, Denmark.
• Exeno Yamamizu CorporationcoreChannel Partner/ Reseller/ Distributor · 1 January 2014ODESSOS Shiprepair Yard S.A. signed with Exeno Yamamizu Corporation to be its exclusive agent in Japan shipping market. Founded in 1947, Exeno provides maritime services including ship sale & purchase, ship owning/operation, shipping brokerage, and supervision of corrosion control coating.

Scale indicators10 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Fincantieri: Italian global shipbuilding group operating multiple shipyards for cruise, naval, and offshore vessels, plus growing ship repair and conversion activity. Comparable to Odessos as a European yards competitor pursuing the same EU-driven retrofit and conversion opportunities.
• Sembcorp Marine: Singapore-based global shipbuilding and repair group with extensive floating docks and conversion facilities serving offshore, drilling and commercial segments. Comparable to Odessos as a global MRO/yard competitor, though at vastly larger scale and offshore-tilted mix.
• COSCO Shipping Heavy Industry: Chinese ship repair and conversion group with multiple yards (including in Europe via the former Pelican Yard acquisition) serving commercial and offshore clients. Comparable to Odessos as a multi-yard MRO competitor, though Chinese yards compete primarily on scale and price.
• Damen Shiprepair: Damen operates a network of European ship repair yards (Netherlands, Romania, UK) covering drydocking, conversions and afloat repairs for commercial and naval clients. Comparable to Odessos as a multi-site European MRO operator serving international shipowners with similar vessel-size capabilities.
• Hyundai Heavy Industries (HHI): Korean shipbuilding and repair conglomerate operating one of the world's largest shipyards with Ultra-Large vessels, conversions, and offshore work. Comparable to Odessos as a yard offering repair and conversion services, but at a scale that competes for the very large vessel segment Odessos cannot serve.
• Navantia: Spanish state-owned shipbuilder and ship repair operator with facilities for naval and commercial vessel repair, conversion, and retrofit. Comparable to Odessos as a European yards operator competing for EU regulatory-driven retrofit work.

Regional players

• Besiktas Shipyard: Turkish ship repair yard located on the Bosphorus, the natural Black Sea gateway, competing for international shipowner work transiting Turkish Straits. Comparable to Odessos as a Black Sea-adjacent MRO facility chasing similar cross-strait repair tonnage.
• Varna Shipyard (Odyssey Marine): Direct Bulgarian competitor based in the same city of Varna, offering ship repair, conversion, and newbuilding. Most direct local competitor to Odessos for Black Sea-region tonnage and skilled labor pool.

Direct peers

• Remontowa Shipbuilding & Remontowa Repair Yard: Polish ship repair and conversion yard based in Gdansk offering drydocking, refits, and shipbuilding for commercial and offshore clients. Comparable to Odessos as a mid-sized European ship repair yard competing for similar international shipowner work in Northern/Eastern Europe.
• ASRY (Arab Shipbuilding & Repair Yard Co.): Bahrain-based ship repair and conversion yard serving commercial, naval and offshore clients in the Middle East with multiple floating and graving docks. Directly comparable to Odessos as a regional MRO-focused shipyard whose geographic isolation drives reliance on international tonnage.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/OdessosShipyard

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Odessos