Barska Plovidba has transferred $1.6 million to the Export-Import Bank of China as part of its regular debt-servicing obligations related to the financing of two bulk carriers, Bar and Budva. The payment covers the largest portion of the current semi-annual instalment and was executed using the company’s own operating funds.
According to company management, a remaining balance of approximately $0.18 million from the same instalment is expected to be settled shortly, following the receipt of charter income from the vessel Budva. After this payment cycle, the outstanding principal on the loan is estimated at around $23.3 million.
The loan for the acquisition of the two vessels was contracted with the Chinese lender under a long-term repayment schedule extending until 2033. To date, Barska Plovidba has repaid a cumulative $34.8 million, with the majority of repayments covered directly by the company, while the state intervened in earlier years to support obligations during periods of weak liquidity.
Management views the ability to service the current instalment largely from operating revenue as an indicator of improved financial discipline and operational stabilisation, following several challenging years marked by volatile charter rates and elevated maintenance costs.
The company’s debt position and repayment dynamics remain closely monitored, given the broader exposure of Montenegro’s maritime sector to legacy foreign-currency loans. Barska Plovidba’s recent payment is presented as a signal that the company is gradually strengthening its capacity to meet long-term obligations without extraordinary fiscal support.
