South Korean shipping company KSS Line is renewing its liquefied petroleum gas (LPG) transportation contract with energy and commodities company Vitol.
On November 22, 2018, KSS Line inked a KRW 8.08 billion (USD 7.15 million) one-year contract with Vitol.
Valid from January 17, 2019, to January 16, 2020, the contract includes the provision of one vessel to transport LPG cargo.
As informed, the contract amount increased by 16%, compared to the previous contract with Vitol.
The newest deal is part of KSS Line’s efforts to boost profitability through long-term contracts and chartering activities.