Bijela falls to red

Shiprepairer Adriatic Shipyard Bijela has fallen into the red in the first quarter.
Bijela: started with a loss

Bijela: started with a loss

The Montenegrin shipyard said it logged a net loss of EUR 0.74m ($1m) to 31 March, compared to a profit of EUR 0.11m a year earlier.

Operating income fell 30% year-on-year to EUR 3.1m, with operating costs were down by 10% to EUR 3.8m.

The company has been the subject of a state auction this year, but sole bidder Damen Shipyards’ offer was rejected.

  • Damen bid rejected

    Dutch shipbuilder Damen has been knocked back in its bid to buy Montenegro’s Adriatic Shipyard Bijela.
  • Three vie for Bijela

    Montenegro has received three bids in the auction of Adriatic Shipyard Bijela.