What is happening with the Bulgarian maritime flag?

The article discusses two of the important Memorandum of understanding that have an impact on the development of Bulgarian maritime transport, such as The Paris Memorandum of Understanding on Port State Control - Paris MoU and The Memorandum of Understanding on Port State Control in the Black Sea Region - BS MoU. Their essence is briefly examined and based on data on the inspections carried out, it is found that Bulgaria does not have a sufficient number of vessels, which is the basis for its exclusion from the lists of the Paris Memorandum. It is noted that one of the largest Bulgarian shipowners registers its vessels under the flag of Malta, which directs the focus of attention to the conditions for registering ships in that country. The author believes that Bulgaria can study these conditions and implement a similar registration regime in the country.