The Federal Agency for State Property Management (Rosimushchestvo) put up for sale a state-owned stake in Northern Shipping Company, 20% of authorized share capital in the Company. The auction will be carried out by Russian Auction House.
Suggested Opening Bid (SOB) is RUB 200 million ($6.1M), minimum price – RUB 100 million. Submission of applications by bidders to participate in the auction is open on December 13 2013. Deadline for submission of applications is December 17, 2014. The auction is scheduled to be held on March 18, 2014. The previous auction for the stake sale was canceled.
JSC Northern Shipping Company is a largest operator in Russia's northwest region. The company specializes in maritime transport worldwide, including shipping along the Northern Sea Route. The Company owns and operates a fleet of 41 vessels of different types (23 cargo ships, 10 dredgers and 8 auxillary vessels and 7 chartered ships). The Company operates a fleet of multipurpose dry bulk carriers of DWT ranging 2,500 to 14,000 tonnes, transporting all kinds of dry goods, including radioactive and hazardous ones.