Crnogorska | Plovidba [verified]

Then, disaster struck. On June 15, 2025, the Kotor was detained in the port of Savannah, Georgia, by the U.S. Coast Guard. The inspection revealed a total of nine procedural and technical deficiencies, including a failure in the safe steering system caused by defects in the main and auxiliary engines. The ship remained stuck in the U.S., racking up daily costs that threatened to exceed its market value. Minister Radulović publicly declared that all legal mechanisms were exhausted and that the government could no longer help the company. By September, the company’s total debt was estimated at €37.3 million, including €33.8 million owed directly to the state for its guarantees.

is the cornerstone of Montenegro’s modern merchant marine industry. Headquartered in the historic, UNESCO-protected maritime town of Kotor, this state-owned joint-stock company represents the nation's strategic effort to maintain its ancient seafaring traditions while navigating the complex waters of global commercial shipping. Established to revive Montenegro's presence on international trade routes, the company operates a fleet of modern bulk carriers, managing logistical networks that connect the Adriatic to global commercial hubs. Historical Context and Foundation crnogorska plovidba

Crnogorska Plovidba operates in the highly cyclical bulk cargo market. Its vessels are usually leased out via time-charter agreements to international charterers who dictate the routes and specific cargo requirements. Then, disaster struck

Electronic Government Session: Green light for Danes to buy ... - Vijesti The inspection revealed a total of nine procedural

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?