DAVOS (Switzerland), January 25 (RIA Novosti) - Russia's economic development and trade ministry will soon approve a merger of Russia's largest sea carriers Novoship and Sovcomflot, economics minister German Gref said Thursday.

"We are assessing all the pluses and minuses of such a merger. I held a conference last week, and in principle we were favorably disposed toward the deal," Gref, who is attending an annual session of the World Economic Forum in Davos, said.

The united company will be on the list of the world's five largest shipping companies.

"I don't think this [approval] will take a lot of time, [as] we have discussed the principle issues," he added.

Earlier, Russia's Transportation Ministry said Novoship's board of directors was not against transferring the state-held share package to Sovcomflot.

Novoship's main shareholders are Russia's Federal Agency for the Management of Federal Property (60.73%), the Federal Property Fund (6.4%), JSC Novoshipinvest (8.49%) and Intrigue Shipping (14.41%).

Sovcomflot is 100% owned by the state. Novoship has 58 ships with a total deadweight of 3.5 million tons, while Sovcomflot has 52 ships with a total deadweight of 4.1 million tons. The companies transport energy.

Presidential aide Igor Shuvalov, who is also Sovcomflot board chairman, said in September 2006 that a merger between Novoship, Russia's second-largest shipping company, and the sector leader Sovcomflot, would be viable, but that Russian officials involved are hampering the deal.