The Shanghai-listed state-owned shipbuilder is forecasting a deficit of RMB2.5bn ($364.7m) to RMB2.8bn for the financial year 2016. This will compare to a profit of RMB61.85m in 2015.
CSSC blamed the projected loss to the slump of the offshore sector, leading to the group getting hit by customers wanting to defer deliveries and cancelling orders.
The group’s business in the merchant vessels segment is also impacted by reduced shipbuilding orders and lower newbiulding prices.
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