Adriatic 42 Shipyard in Bijela has invested over 60 million EUR so far, which is twice the initial investment commitment. The company is a joint venture between the shipbuilding corporation DryDocks World Dubai and Porto Montenegro from Tivat, both backed by the state investment fund Investment Corporation of Dubai (ICD).
Adriatic 42 operates on the foundations of the former Jadransko Shipyard, focusing on the repair and maintenance of luxury vessels such as mega and superyachts. Now in its third year, the shipyard employs around 100 workers and contracts an additional 200 to 250 local subcontractors, mainly from the Bay of Kotor region and across Montenegro.
The management team, led by CEO Erik Riber Pelard, General Manager Zoran Stanjević, and Commercial Director Milan Bošković, highlights investments in modern equipment, hall renovations, and a strong commitment to environmental protection. Key facilities include the largest floating dock in the Adriatic Sea (with a capacity of 10,000 tons), a 720-ton travel lift, and a mobile transporter capable of handling vessels up to 350 tons.
The company emphasizes its crucial role in supporting state institutions such as the Montenegrin Navy and police. Recently, they repaired the luxury yacht “Ramonda” after a fire incident at Portonovi marina, doing so without causing environmental damage. Adriatic 42 is also advancing its modernization and environmental standards by using eco-friendly antifouling paints, implementing a waste collection system, and planning to install solar panels.
“We are the best-equipped and largest shipyard in Montenegro and the only technical capacity that can respond within hours to most technical incidents or emergencies involving vessels in Montenegrin waters. We are the main logistical support for the Montenegrin Navy, police, and other state maritime services, and we take pride in becoming a unique asset for Montenegro,” said CEO Erik Robert Pelard.
Demand has grown steadily: in the first year, the shipyard serviced 22 yachts; in the second year, 26; and so far this year, 27 vessels over 30 meters in length, not including other services. Notable projects include repairs and docking of the superyacht “Black Pearl” and the historic 1906 ship “Kalizuma,” as well as restoration projects for yachts from the Italian shipyard Perini Navi.
Adriatic 42 has established partnerships with major manufacturers like Azimut-Benetti and San Lorenzo and holds significant contracts with the Ministry of Defense for servicing Montenegrin Navy vessels. They also collaborate with educational institutions to train future specialists in the repair industry.
Pelard mentioned that they have not yet taken full control of the former shipyard premises due to leftover grit from sandblasting operations. They expect the government to resolve this issue, which would allow for expansion of their capacities.
Regarding ownership, negotiations are ongoing between DryDocks World Dubai and ICD, the owner of Porto Montenegro, about the future of Adriatic 42. Pelard emphasized that the most important aspect is that the new owner will continue investing in the company’s development.
