Statoil to divest 50-100% of shipping unit Navion

Statoil ASA said it has initiated a process to divest 50-100% of the shares in Navion, its shipping unit.

A number of companies have expressed interest and have been invited to review documents in a data room from mid-August.

Navion reported a 0.3 billion nkr decrease in net profit during the second quarter from a year earlier, mainly due to lower shipping rates within conventional shipping and lower capacity utilisation and rates for the offshore loading fleet.