Plovidba [updated] — Crnogorska

. 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

The company’s financial difficulties began almost immediately after the purchase of the fleet. The loan from the Chinese bank placed a heavy repayment burden on a state-owned company that was highly sensitive to the volatility of global shipping freight rates. As early as August 2014, the company reported a profit of only 147,000 euros, which was half of what it had earned in the previous period, with operating income falling by 42%. crnogorska plovidba