A 25.5% share is open to bidders from 18 November and the final participants in the 6 December sale will be decided on 21 November, according to the Federal Property Management Agency.
The rest of the owner's stock is already split between private investors and management.
Moscow-registered Arctic Technologies owns 60%.
Murmansk is listed as operating four icebreakers, three general cargoships, 14 bulkers, three MPPs, five tankers, one anchor-handler and two passengerships.
The
