Crnogorska Plovidba Portable • High-Quality

For nearly a decade, Crnogorska plovidba was a company in name only, existing without a single ship under its control. This changed dramatically in 2012 when the company took delivery of its flagship—and only—vessels, both built at the Shanghai Shipyard.

To cushion itself against the notoriously volatile spot market charter rates, Crnogorska Plovidba historically deployed its vessels via .

With its new fleet, Crnogorska plovidba began operations. The year 2012 was the company’s first “real” business year, as its ships entered commercial service. The results were promising. The company achieved total revenues of €3.28 million and an operating profit of €243,869. This profit came despite a challenging global economic crisis, and the company’s ships were employed at rates above the world average. Optimism was high, and by May 2014, the president of the board of directors announced ambitions to double the fleet from two to four ships, with negotiations underway for another purchase in China. crnogorska plovidba

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To avert bankruptcy, the Ministry of Maritime Affairs initiated an emergency rescue plan. Under this framework, the government directed its secondary state shipping entity, (based in Bar), to absorb the commercial management of Crnogorska Plovidba’s vessels. Barska Plovidba extended a €1 million liquidity advance to cover immediate creditor demands, with a legally mandated repayment deadline of June 1, 2026 . In exchange, Barska Plovidba receives a 9% management fee on charter revenues generated by the two ships. The Future: Restructuring or Liquidation? For nearly a decade, Crnogorska plovidba was a

This comprehensive analysis explores the history, fleet operations, financial downfall, and final liquidation of Crnogorska Plovidba. 🚢 The Foundation and Vision

Press release from the 76th Cabinet session - Vlada Crne Gore With its new fleet, Crnogorska plovidba began operations

: It serves as a primary career path for graduates of the Faculty of Maritime Studies in Kotor .

: The company operates on the international open maritime market, often leasing its ships through time charter agreements to global operators like Oldendorff Governance

At the core of Crnogorska plovidba’s operations were its two primary assets: the bulk carriers Kotor and Dvadesetprvi Maj (also referred to as 21. Maj ). Both vessels were Handysize bulk carriers, with a deadweight tonnage of approximately 35,000 tons each and a length of 179.9 meters.

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