Montenegro may purchase two additional ships from China-report.

By bne IntelliNews January 11, 2012
Montenegro plans to purchase two additional ships from China, reported, citing unnamed sources. Currently, Montenegrin fleet consists of two ships, with a capacity of 35,000 each and suitable for transportation of bulk cargo. The ships are financed with a USD 47.4mn loan from the Export-Import Bank of China. The Montenegrin government has provided guarantees on the 15-year loan, which has a five-year grace period and 3% interest rate. The purchase of the ships is expected to begin the process of renovation of Montenegro's fleet and to boost the country's trade.

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