Crnogorska Plovidba __exclusive__ Jun 2026

As of late 2025 and early 2026, the company has entered a phase of drastic restructuring:

Since its inception, Crnogorska Plovidba has struggled with heavy debt, primarily stemming from a $47.4 million loan from the Chinese Exim Bank used to purchase its fleet. Debt Burdens crnogorska plovidba

The sale was a political firestorm. Critics accused the government of corruption, ignoring expert advice, and conducting the deal through a secretive, non-transparent process without a public tender. The Association of Maritime Captains of Montenegro condemned the move, and Member of Parliament Boris Mugosa proposed a parliamentary hearing into the “problematic sale”. Montenegro’s Special State Prosecutor’s Office announced an investigation into the actions of company representatives and Ministry officials for potential violations of national law. As of late 2025 and early 2026, the

A turning point, however, seemed to arrive in 2021. For the first time since its founding, Crnogorska plovidba finished the year "in the plus," reporting a modest net profit. This positive streak peaked in 2022, a year marked by a significant increase in global freight rates, leading to a much more substantial net profit of €2.37 million, on revenues of €14.08 million. Though profits dipped again in 2023 as freight rates fell, the company was still in the black. This created a narrative of a company that, after years of struggle, had finally found its footing and was on a path to sustainable profitability. The Association of Maritime Captains of Montenegro condemned

Press release from the 76th Cabinet session - Vlada Crne Gore

The International Maritime Organization (IMO) has set strict decarbonization targets. Crnogorska Plovidba’s fleet, while modern, is not electric or LNG-ready. The cost of retrofitting ships to run on methanol or ammonia is astronomical for a small nation-state company.

Crnogorska Plovidba is a state-owned shipping company based in Kotor, Montenegro, specializing in international maritime bulk transport. While primarily a commercial entity rather than a passenger service, this guide provides an overview for industry professionals, maritime students, and those interested in Montenegro's shipping sector. Crnogorska Plovidba A.D. Kotor 1. Fleet & Technical Specifications