The 2006 referendum, which granted Montenegro independence, was a renaissance for . Free from Belgrade’s political baggage, the government of Montenegro invested heavily in restructuring the debt-ridden company.
Despite periods of high asset utilisation, the company suffered from deep structural financial vulnerabilities. The acquisition of the two multi-million-dollar Chinese ships was funded via heavy loans backed by state guarantees. High leverage, combined with cyclical downturns in global dry bulk shipping rates, pushed the company into a persistent liquidity deficit.
Today, its fleet primarily consists of bulk carriers that operate in international waters. Beyond its economic footprint, the company is central to labor relations in the region, operating under a Collective Agreement for ship crews concluded at the end of 2020, which remains a key document for seafarers' rights in Montenegro. The Current Liquidity Crisis crnogorska plovidba
Transitioning to vessels with lower emissions and better waste management.
The history of Montenegrin navigation dates back to the 10th century, when the country's coastal towns, such as Kotor and Budva, emerged as major trading centers. The Montenegrins developed a strong maritime tradition, with sailors and shipbuilders playing a crucial role in the country's economy. Over the centuries, crnogorska plovidba has been influenced by various cultures, including the Venetians, Austrians, and Ottomans, each leaving their mark on the country's maritime heritage. Beyond its economic footprint, the company is central
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In a major turning point, the Montenegrin government recently pivoted away from ship owning: The Transaction : In late 2025, the fleet was sold to the Danish firm Navision Shipping for approximately $13.25 million 000 tons 179.9m × 28.4m
To achieve this, the Montenegrin government secured a in 2010. The funds went toward ordering two Handysize bulk carriers from the Shanghai Shipyard Co., Ltd. . Vessel Name Built Year Deadweight Tonnage (DWT) Dimensions (LOA x Breadth) M/V Kotor Shanghai Shipyard 34,987 tons 179.9m × 28.4m M/V Dvadesetprvi Maj Shanghai Shipyard 35,000 tons 179.9m × 28.4m