South Korean shipping firm KSS Shipping has secured a contract for ammonia transportation from Indonesia company Parna Raya.

The contract, worth around KRW12.3bn ($11m), will start from April and is for one year.

KSS Shipping holds an optimistic outlook for the medium size LPG tanker market. According to the company, the increasing US LPG export volume and gas demand in Europe, India and Asia as well as the prosperous ammonia market will all support the market.

The company said it is considering making new investments into medium size LPG tankers.

KSS Shipping currently operates a fleet of 22 vessels made up of 7 tankers and 15 LPG carriers.