Crnogorska Plovidba -

Corporate governance: Supervisory board + management board, following Montenegrin company law.

Crnogorska Plovidba is a publicly traded joint-stock company (AD) on the Montenegro Stock Exchange (MNSE). Its ticker symbol is MPOV.

Crnogorska plovidba predstavlja spoj bogate pomorske tradicije i savremenih izazova i prilika: od istorijskih luka Boke Kotorske do savremenih marina i trgovačkih terminala. Njena budućnost zavisi od ulaganja u infrastrukturu, usklađivanja sa međunarodnim standardima, održivih praksi i razvoja kadrova. Sa strateškom lokacijom na Jadranu i rastućim sektorom jahtinga i turizma, pravilnim planiranjem Crna Gora može unaprediti svoju ulogu u regionalnoj i međunarodnoj plovidbi, istovremeno štiteći svoje osjetljive obalne ekosisteme.

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State-owned Crnogorska Plovidba A.D. Kotor faces insolvency after the Montenegrin government approved the sale of its two primary vessels, "Kotor" and "21. maj," to Denmark's Navision Group for $13.25 million. Critics argue the ships were sold below market value amid a severe financial crisis, marking the likely end of the company's operational life as a shipowner. Read the full analysis at Vijesti or Vijesti. crnogorska plovidba

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Electronic Government Session: Green light for Danes to buy ... - Vijesti

Crnogorska Plovidba is at a historic turning point. Once a symbol of Montenegro’s maritime renewal, the state-owned shipping company is currently navigating a period of severe financial distress that has led to the sale of its entire fleet. 1. The Fleet: A Story of Two Ships

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 Shanghai Shipyard 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. Crnogorska Plovidba is a publicly traded joint-stock company

These ships were intended to be flexible assets for transporting bulk cargo globally, but high debt and operational challenges eventually stalled their progress. 2. Current Status: Asset Liquidation

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

The Sale: The government approved the sale of both the Kotor and 21. Maj to the Danish company K/S Navision Group for approximately €11.2 million.

Financial Distress: Even after the sale, the company remains burdened by significant debt, estimated at roughly €26 million. State-owned Crnogorska Plovidba A

Operational Stalls: Before the sale, the MV Kotor faced high-profile technical breakdowns and was even blocked in the U.S. port of Savannah due to unpaid debts. 3. Why It Matters: The "Blue Economy" Struggle

Crnogorska Plovidba represents the difficulty small nations face when competing in the volatile international maritime market: Crnogorska Plovidba A.D. Kotor

Thanks to the strategic location of Montenegro’s Port of Bar (the only natural port on the Montenegrin coast suitable for large bulkers), Crnogorska Plovidba focuses on: