NewsMontenegro's maritime industry: Key to economic growth, with challenges ahead

Montenegro’s maritime industry: Key to economic growth, with challenges ahead

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Montenegro’s maritime sector is a powerful driver of its economy, with the biggest challenge in the near future being the strengthening of its maritime administration, according to the Minister of Maritime Affairs, Filip Radulović.

He highlighted the importance of having a dedicated Ministry of Maritime Affairs for Montenegro, given the country’s centuries-old tradition and cultural heritage in maritime activities.

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“Estimates suggest there are over 6,000 active seafarers in Montenegro, contributing more than 300 million EUR annually to the economy,” Radulović stated in an interview with the Mina-business agency.

He acknowledged the sector’s various challenges, with the most pressing being the need to reinforce the maritime administration. Currently, around 50 people work within the Ministry of Maritime Affairs, the majority stationed at port authorities along the coast, with a much smaller number based in the capital Podgorica. He emphasized the need to strengthen this administrative framework moving forward.

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To address this, Montenegro is implementing the Seaman Identification Document (SID) program, which will function like an identity card for seafarers. Once fully established, it will provide an accurate count of the active seafarers in the country.

Radulović also spoke about efforts to improve the country’s maritime infrastructure, noting that the Ministry is ambitiously working on upgrading port facilities and promoting Montenegro’s ports.

In September 2025, Montenegro will host the final stage of The Ocean Race Europe. Radulović compared this prestigious sailing competition to Formula 1 in road transport, calling it the most significant event in Montenegro’s maritime history. The race is expected to attract around 100,000 visitors.

The event, set to last four to five days, will expand the tourist season and introduce a completely new type of event to the country. According to Radulović, this is a milestone for Montenegro, as the initial plan was for the country to host one of the stages, but negotiations resulted in it being chosen as the final host.

Besides the Bay of Kotor, Radulović emphasized the importance of the Port of Bar as a key maritime hub. In August, Montenegro applied for the Western Balkan Investment Framework (WBIF) grant from the European Commission, aimed at deepening the waters at the Port of Bar and renovating the port’s railway infrastructure. He expects to hear by the end of January whether the grant will be awarded.

Radulović also revealed that efforts are underway to convert several ports in the Bay of Kotor into nautical tourism hubs. Porto Montenegro and Portonovi are now equipped to handle up to 100 passengers in just three days, thus expanding Montenegro’s tourism capacity.

In discussing the Port of Adria’s potential acquisition, Radulović shared that the Port of Bar has engaged the German consulting firm Hamburg Port Consulting to conduct a financial and commercial analysis of the port. This report, expected in eight weeks, will determine the potential value of the Port of Adria.

Radulović pointed out that, while other countries in the region invested heavily in their port infrastructure over the past decade, Montenegro lagged behind, which he regretted. He compared the performance of regional ports, noting that Port of Koper in Slovenia now handles 20 times more containers annually than Port of Bar.

Regarding Montenegro’s maritime routes, Radulović noted that expanding the country’s sea transport network is a strategic goal. The government plans to reinstate the Bar-Bari ferry route in June 2025, which had been a significant demand from citizens. Additionally, the Budva-Dubrovnik ferry, launched last year, was very successful, bringing more tourists to Budva and reducing traffic at the border crossing between Montenegro and Croatia.

Starting in June, the Kotor-Dubrovnik ferry route will be expanded, further boosting Montenegro’s tourism offerings.

The Port of Kotor, another key player in the maritime sector, had a successful year in 2024, receiving 476 ships, almost 600,000 passengers, and over 1,000 yachts carrying 3,400 visitors. Radulović highlighted the importance of this port, explaining that the government granted it exclusive rights to carry out pilotage operations last year, which has proven to be a wise decision.

Lastly, the Minister discussed the new Maritime Agency Law, which will officially regulate the maritime agency business in Montenegro. The law is designed to combat the informal economy in the sector, ensuring that the state collects revenue from multiple sources.

Radulović concluded by emphasizing the government’s commitment to improving Montenegro’s maritime infrastructure and expanding its maritime economy in the years to come.

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