Deadline for submitting a security deposit of 95 million roubles (€2,4 million) was May 11. Nobody joined for the privatization auction of 25,5 percent of the shares in the Murmansk Shipping Company (MSCo), reports the Moscow Times.
The security deposit to be paid first is just a little of the total sum for the shares. The starting price was 958 million roubles (€24 million).
MSCO has a large fleet of dry cargo vessels, tankers, passenger boats and an icebreaker.
The corporate structure includes Northern Shipping Company and Northern River Shipping Lines. The company carries about 80 percent of cargo transportation along the Northern Sea Route.
In addition to the shares in MSCo, the Russian state is in the process of selling its shares in Murmansk port, Arkhangelsk Trawler fleet and the mining company Apatit.
Read also: Three companies in Barents Russia up for privatization
