ASSOCIATED BULK CARRIERS SELLS FOUR MORE VESSELS

ASSOCIATED BULK CARRIERS SELLS FOUR MORE VESSELS    The Peninsular and Oriental Steam Navigation Co., an ocean carrier based in London, said Friday that Associated Bulk Carriers Ltd., a capesize bulk shipping venture in which P&O has a 50 percent shareholding, has disposed of four additional vessels.
   The ships most recently sold were the 'Ullswater,' 123,504 deadweight-ton; 'Vine,' 123,738 dwt; 'York,' 149,503 dwt, and 'Waterford,' 149,513 dwt. All were built in 1990.
   The four vessels were sold for $62 million, equivalent to their book value.
   On May 16, P&O reported that ABC had sold four vessels for a total of $45 million, their book value.
   ABC’s remaining fleet comprises seven owned and seven leased or bareboat chartered ships that have an average age of six years.
   In its latest round, ABC sold the ships to companies under common control of Eurotower Holdings SA, which owns the other half of ABC.
   Eurotower Holdings S.A. is part of the SAMAMA Group, S/A Monegasque d’Administration Maritime et Aerienne, a private group of shipping companies.