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Late Yugoslavia's President Josip Broz Tito's yacht Jadranka, covered with camouflage netting, sits in dry dock at Port of Bar, Montenegro, October 1, 2018. Picture taken October 1, 2018. REUTERS/Stevo Vasiljevic

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BAR, Montenegro (Reuters) - Wanted - a wealthy new owner for Jadranka, the 41-year-old yacht on which Yugoslavia's President Josip Broz Tito once wined and dined celebrities and dignitaries, but which has become too costly for the Montenegrin government to maintain.

The wooden ship was dry docked in 2017 for repairs in Montenegro's port of Bar. She remains there, partly hidden by a camouflage net, with her hull riddled with cracks and peeling white paint.

The Montenegrin government has said it will consider offers for the 34 metre-long vessel above 80,000 euros ($92,776.00).

Tito, who led former communist Yugoslavia from the end of World War Two until his death in 1980, exploited the Cold War to balance the country between East and West, with alliances worldwide.

Jadranka had a top speed of 25 knots and its crew of 14 could serve up to 40 guests.

A Montenegrin government official, who asked not to be named, told Reuters Jadranka had been offered for sale by the tiny Adriatic country as "it was too expensive to keep her."

Jadranka remained in service until the 2006 dissolution of the State Union of Serbia and Montenegro, the last vestiges of Yugoslavia. It was then used by Montenegro.

In 2007, Montenegro sold Tito's other yacht, the Primorka for 104,000 euros, also to cut on maintenance costs. His former flagship, the Galeb, is rusting in its berth in the Croatian port of Rijeka.

(Reporting by Aleksandar Vasovic; Editing by Alexandra Hudson)

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Reuters