Two consortiums have made bids in the second and final round of offers for the Estonian Shipping Co, one of the largest companies up for sale in the Baltic state.

The bidders are Arbonale - which includes Nomura, Jinhui Shipping and Transport and Norwegian company Marsoft - and a group led by the Estonian investment house Baltic Cresco.

A decision on the winner of the privatisation competition may be announced on June 11.