The subsidiary of Hong Kong-listed China Rongsheng Heavy Industries recorded losses of RMB49.21m ($7.98m) in the quarter ended 31 March 2013.
Revenues at Jiangsu Rongsheng stood at RMB744.39m during the quarter.
At the end of 2012, China Rongsheng delivered 3.93m dwt of newbuilding capacity and had about $5bn worth of orderbook with the majority comprising of bulk carriers and VLOCs.
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