Bălgarski Morski Flot (Bulgarian Merchant Navy) is among the ten biggest enterprises in Bulgaria. It's a state-owned company and it's expected to be privatized (or is already, I'm not sure), as Bulgaria joins the EU rules. In a stamp of 1992 there is the BMF ship "Varna" and a little flag of the company.
The Bălgarski Morski Flot flag is shown by Brown 1978 to 1995 under its major component Navigation Maritime Bulgare which was founded 15.9.1947. Apparently Bălgarski Morski Flot was also originally known as Inflot. In 1970 there was a reorganization of the shipping industry with passenger ships placed under Balkantourist [also shown as "Bulkandship" or "Balkanship" State Passenger Lines i.e. different books = different translations, tankers under Bulgarski Tanker Flot [Bulet] and dry cargo ships under Navigation Maritime Bulgare. Chartering was done by Bulfrakht and the fleet deployment was controlled by Bălgarski Turgovski Flot. This somewhat complicated state of affairs does not seem to have lasted long and Lloyds now show the merchant fleet as all under Navigation Maritime Bulgare which is still controlled by the Bulgarian Government although in 2000 a 43.7% holding was acquired by British Orient Holdings.