KSS Line maintains surplus in 2012

KSS Line, a Korean chemical carrier, announced it was back in the black for 2012.

The carrier said its annual revenue in 2012 was KRW 110 billion, up by 15.1% compared with 2011.

However the company saw operating profit and net profit decrease to KRW 12.2 billion and KRW 12.9 billion, down by 10.5% and 46.7% respectively.

KSS Line judged that the company could attain a double-digit growth rate due to long term charter contracts. The Korean-carrier took and deployed a Very Large Gas Carrier "Gas Power" under contract with VITOL S.A. on February 2012.

The carrier also fixed a long term charter contract with a Japanese company, Mitsui & Co. The vessel is a 35,000 cbm class ammonia carrier tanker, "Gas Quantum", and will be delivered in March. < 김보람 기자 brkim@ksg.co.kr >