Crnogorska Plovidba -

As the company teetered on the edge, the Ministry of Maritime Affairs, led by Minister Filip Radulović, scrambled to find a solution. The initial plan involved a business and technical cooperation agreement with Barska plovidba, another state-owned maritime company based in Bar.

Despite the initial vision, the company has faced severe financial headwinds in recent years: Shrinking Profits : Net profit plummeted from €2.3 million in 2022 €165,000 in 2023 Insolvency Risks crnogorska plovidba

These ships were intended to be flexible assets for transporting bulk cargo globally, but high debt and operational challenges eventually stalled their progress. As the company teetered on the edge, the

Crnogorska Plovidba operates primarily in the , serving global charterers, commodity traders, and industrial companies. Crnogorska Plovidba operates primarily in the , serving

The ship, a 35,000-ton bulk carrier, was one of the twin pillars of , the state-owned shipping line based in the ancient, stone-walled city of Kotor. Along with its sister ship, the Kotor , it carried the pride of a small nation with a long maritime history.

By mid-2024, the situation was nearing a breaking point. Government officials, including Minister of Maritime Affairs Filip Radulović, began describing the situation as “catastrophic,” with discussions even turning toward the possibility of initiating bankruptcy proceedings. The company’s management argued that after the final loan installment to Exim Bank was paid in January 2025, the ships would be “free and clear” of any pledge, making them eligible as collateral for new loans to buy additional vessels and expand the fleet. The management presented a business plan projecting millions in profits and fleet expansion.

Dan 6 — Kotor → Herceg Novi (≈10–15 NM)