Crnogorska Plovidba | [exclusive]

: The sale has been mired in debate, with critics alleging it was "non-transparent." In one instance, a Turkish bidder, EOS Group , offered a higher price of $16 million , but the deal collapsed amidst claims of missed deadlines and a sudden shift in negotiations toward the Danish buyers .

The sale barely made a dent in the company’s liabilities. Although the immediate proceeds were used to pay down the debt to the Chinese Exim Bank, a 2025 financial report revealed the extent of the catastrophe. After the sale, Crnogorska plovidba was left with only three million euros in its account, but still owed the government of Montenegro a staggering 33.8 million euros. The company’s accumulated loss reached 40.7 million euros, and the value of its remaining assets (spare parts and office supplies) was a paltry 18,311 euros.

: While initial negotiations were held with the Turkish EOS Group , the fleet was eventually sold to the Danish K/S Navision Group for approximately $13.2 million . crnogorska plovidba

The ship, a 35,000-ton bulk carrier, was one of the twin pillars of , the state-owned shipping line based in the ancient, stone-walled city of Kotor. Along with its sister ship, the Kotor , it carried the pride of a small nation with a long maritime history.

These modern vessels (built between 2010 and 2019) are registered under the Montenegrin flag, which is now a "white flag" on the Paris MoU list—indicating high quality and low detention risk. : The sale has been mired in debate,

Crnogorska Plovidba specializes in – primarily grains, iron ore, coal, bauxite, and fertilizers.

: In April 2025, the company's accounts were temporarily blocked by Prva Banka After the sale, Crnogorska plovidba was left with

The company owes approximately €36.2 million to the Government of Montenegro.

: The sale of the Kotor and 21. maj to Danish buyers marks the loss of the company's primary revenue-generating assets. Legal & Arbitration Issues :