: In 2022, the Agency for the Protection of Competition ruled that previous state aid provided to the company was illegal, ordering it to return millions in uncoordinated funds to the national budget. The Sale of the Fleet (2025) Crnogorska Plovidba A.D. Kotor

(the other state shipping line) to stabilize the maritime sector. Lloyd's List Contact & Regulatory Information Crnogorska Plovidba A.D. Kotor

: By early 2025, the company owed the state over 34 million euros due to multiple government interventions to cover loan installments. Declining Profit

: Reports from late 2025 indicate the government moved to sell the company's two ships to Danish buyers for approximately $13.2 million to address mounting debt and liquidity issues. Financial Struggles

The company has recently faced significant financial and operational restructuring as of early 2026: Fleet Sale

Historically, the company's fleet consisted of two "Handysize" bulk carriers, each with a carrying capacity of approximately 35,000 tons, built at the Shanghai Shipyard in China: Crnogorska Plovidba A.D. Kotor : Delivered in January 2012. M/V 21. Maj : Delivered in May 2012.

(Ministry of Maritime Affairs) and 0.03% by the Employment Agency of Montenegro. Fleet Composition