Aboitiz Transport System Corp. said yesterday it has sold and delivered its SuperFerry 15 vessel to South Korea's Heung-A Shipping Co., Ltd. for P789 million.

ATS stands to gain about P243 million on the sale, it said in a disclosure to the Philippine Stock Exchange.

The shipping firm said it sold two vessels early this year and liquidated P1.7 billion in debt and reduced interest costs by 59 percent from last year.

ATS, which marks its 100th year in the transport business, said it continues to focus on enhancing shareholder value by strengthening its financial position. It added that ATS has been converting unused passage capacity to roll-on, roll-off capacity and has already converted three SuperFerries for the purpose to generate additional 192 teus to its freight capacity.

ATS said it has partnered with AP Moller Maersk Group in its freight business, in a joint venture company called MCC Transport Philippines, which offers regular weekly sailings to Manila, Cebu and Cagayan de Oro.*

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