The government of Croatia has repeatedly attempted to privatise the shipyard, most recently in November 2010.

[4][5] The company was forced into bankruptcy proceedings by the Croatian government in March 2012.

[6][7] The shipyard has produced a variety of commercial ships, military vessels, and superyachts.

[8] In 2009, Kraljevica Shipyard constructed the JoyMe, a 49.9 metre yacht.

[9] In 2010, the shipyard agreed to build two large trawlers for Russian clients.