It is a relatively old fleet of vessels with home ports in Murmansk and Arkhangelsk that apparently is not attractive enough for investors. Not one single bid has been placed, according to the press center of the Auction House of the Russian Federation.
The auction of the state’s shares in the two companies has been recognized as void, reports Itar-Tass.
The state owns 25,5 percent of the shares in Murmansk Shipping Company (MSCo) and 26,7 percent of the shares in Northern Shipping Company (NSCo). The Arkhangelsk based Northern Shipping Company has MSCo as controlling shareholder with 56,4 percent of the shares.
This is the second failed attempt to sell the state’s shares in MSCo. In spring 2011, BarentsObserver reported that nobody joined for the privatization auction when the state set a starting price at RUB 958 million (€24 million).
The Murmansk Shipping Company today has a fleet of 33 vessels, including dry cargo vessels, oil tankers, ice-breakers, a passenger vessel and a few auxiliary vessels. The company is owned by the Arctic Technologies 61,78%) and the Russian state (25,5%). The company posted a net loss of RUB 700 million (€15,5 million) in 2012.
The state first announced its intention to sell the Murmansk Shipping Company back in 2010.
