South Korea's No. 4 shipper Korea Line Corp. (KSE:005880) said Friday that its 2006 earnings grew nearly 30 percent from a year earlier on recovering market conditions.

Net income reached 110.4 billion won (US$117.8 million) last year, up 28.73 per cent a year ago, the company said in a regulatory filing.

Sales also grew 3.69 per cent to 1.15 trillion won, while operating profit declined 1.73 per cent to 89.3 billion won, it added.

Shares of Korea Line rose 0.34 per cent to 43,750 won as of 1:24 p.m. on the main bourse.

Established in 1968, the shipper provides special carrier services to transport items such as ore, coal, steel, liquefied natural gas and sugar. It also has a tramper service available around the globe.