Crnogorska Plovidba • Working

Navigation and National Interest: The Journey of Crnogorska Plovidba

The company was founded with the ambition of returning Montenegro to the international shipping market. Its operations centered on two bulk carriers, both built at the in China and delivered in 2012: MV Kotor : A 35,000 DWT "Handy" type vessel. MV 21. Maj : Identical sister ship, also 35,000 DWT.

(Dvadesetprvi Maj): Delivered on August 31, 2012 (35,000 DWT). crnogorska plovidba

For generations, working for Crnogorska Plovidba meant a middle-class life. Even today, while many sailors work for international management companies (MSC, Maersk), the domestic fleet provides crucial employment. The company maintains a policy of staffing its vessels predominantly with Montenegrin nationals, preserving a maritime tradition that dates back to the Venetian Republic.

Crnogorska plovidba is more than just a chapter in Montenegro's history – it's a vital part of the country's identity and cultural heritage. As we look to the future, it's essential to preserve and celebrate this rich maritime tradition, ensuring that the stories of Montenegrin sailors, shipbuilders, and traders continue to inspire generations to come. Whether you're a history buff, a sailing enthusiast, or simply someone who appreciates the beauty of the Adriatic, crnogorska plovidba is sure to captivate and inspire. Navigation and National Interest: The Journey of Crnogorska

The company has had virtually no activity since the sale, yet it continues to exist as a ghostly entity. It still has an executive director, seven employees, and five members of the board of directors, all receiving salaries and benefits, with no clear plan for the future. The state has effectively lost its entire founding stake, along with most of the loans it guaranteed.

Unlike private shipping ventures, Crnogorska Plovidba was structured to fulfill multiple state objectives: Maj : Identical sister ship, also 35,000 DWT

Facing this crisis, the government made its final, fatal decision. It authorized Crnogorska plovidba to sell its two ships, its only assets of any real value. In September 2025, the company signed an agreement to sell both bulk carriers to the Danish family office K/S Navision Group. The total price: just $13.25 million—a figure the company had set just two years earlier as the starting point for the sale of one of the ships. The government’s own 2024 audit had valued the two ships at €30.4 million. Critics were quick to point out that the sale price was at least one-third below market value and that the government had effectively sold a €55 million asset for less than a quarter of its original purchase price.

Both vessels feature a length of 179.9 meters and a breadth of 28.4 meters. They were designed to transport various bulk cargos, utilizing their size flexibility to dock at ports inaccessible to larger Panamax or Capesize ships. Fleet Structure and Operations

International Maritime Organization (IMO) regulations regarding sulfur emissions (IMO 2020) and carbon intensity (EEXI – Energy Efficiency Existing Ship Index) have forced old vessels into scrapping. Crnogorska Plovidba has had to invest heavily in scrubber technology or new builds. Without state recapitalization, keeping the fleet modern is a constant headache.

Since 2015, the Montenegrin government has discussed selling its stake in Crnogorska Plovidba. Several international investment funds (from Russia, Ukraine, and the UAE) have shown interest. However, strong resistance comes from the Sailors’ Union of Montenegro, who fear that foreign owners will scrap the vessels and move the flag of convenience to Panama or Liberia, firing local crews.