Dubai-based Faminas Investment Group has proposed taking a 22 per cent interest in Barska Plovidba and investing approximately €55mn–€60mn in two new cargo vessels and reconstruction of Pier 5 at the Port of Bar.
The transaction has not been finalised. Its ownership structure is politically sensitive because a combination of the investor’s shares and the state’s holding could control about two-thirds of the company. Governance rights must remain proportionate and transparent, particularly where a minority investor may receive influence over strategic decisions.
Barska Plovidba owes the state approximately €5mn after the government serviced instalments on loans from the Export–Import Bank of China used to acquire existing vessels. This effectively makes the state both shareholder and creditor.
Two new ships could restore operating capacity, but fleet investment alone will not solve the company’s economics. Vessel specification, charter strategy, fuel efficiency, freight-cycle exposure and management quality will determine whether new assets generate enough cash to service debt.
Reconstruction of Pier 5 could create a stronger connection between the shipping company and the Port of Bar’s cargo strategy. The transaction would become more valuable if aligned with railway upgrades and contracted regional freight rather than based principally on speculative charter markets.
