ASSOCIATED BULK CARRIERS DISPOSES OF FOUR VESSELS

ASSOCIATED BULK CARRIERS DISPOSES OF FOUR VESSELS    The Peninsular and Oriental Steam Navigation Co. said Associated Bulk Carriers Ltd., the capsize bulk shipping venture in which it has a 50-percent shareholding, has disposed of four vessels
   The four vessels sold were the 'Cotswold,' a 151,016 deadweight-tons vessels built in 1986; the 'Ormond,' 187,025 dwt built in 1986); the 'Taunton,' 186,324 dwt, 1986; and 'Zetland,' 145,905 dwt, 1985.
   ABC sold the vessels to various companies under common control with Eurotower Holdings SA, which owned the remaining 50-percent shareholding in ABC. The purchasers intend to contribute the vessels to the recently formed pool of tonnage operated as Cape International, of which ABC is also a member.
   The vessels, which were sold at book value, raised about $45 million.
   ABC's remaining fleet comprises 11 owned and seven leased/bareboat-chartered vessels.