The company owes €36.2 million directly back to the Government of Montenegro, which had paid off the initial loan guarantees.
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
: Employment terms for crew members are governed by a specific Collective Agreement The company owes €36
These ships were intended to be flexible assets for transporting bulk cargo globally, but high debt and operational challenges eventually stalled their progress. However, it faces severe structural and financial challenges
Acting as a crucial employer for certified Montenegrin officers and deckhands under dedicated domestic collective agreements.
. Strategically based in the historic naval town of Kotor, the enterprise was founded to rebuild the country's national commercial fleet and maintain a vital link to international bulk cargo markets. Controlled 99.97% by the Montenegrin government, the company operates on the global open freight market through long-term time charters. However, it faces severe structural and financial challenges that threaten its ongoing existence. The Genesis and Strategic Mission
Crnogorska Plovidba was incorporated to revive the country’s maritime fleet, capitalising on Montenegro's rich seafaring heritage along the Adriatic Sea. According to the official Crnogorska Plovidba platform , the baseline vision for the business was to build and manage a flexible fleet of bulk carriers ("bulkcarriers") optimized for international open-sea trading.