The sale has been recognised as void by the Auction House of the Russian Federation, it said.
The shares were due to be sold on 6 December, but no buyers registered an interest.
The shipowner is controlled by Murmansk Shipping, which also suffered the ignominy of seeing an auction for the state’s holding of 25.5% scrapped last month.
NSC has 41 dry cargoships of between 2,500 dwt and 14,000 dwt.
