Sanoyas Shipbuilding Corporation has turned red in the first six months of 2016.
The Japanese shipyard booked a net loss of JPY 3.23bn ($30.77m), compared to earnings of JPY 1.47bn a year ago.
Sanoyas saw its revenue also decline during the first half to JPY 23.67bn, down by 7.2%.
The company forecasts net income of JPY 100m for the next year, on the back of JPY 52bn of revenue.
This is the same guidance that Sanoyas had given a few months earlier when it disclosed its full year report.
Sanoyas is listed with a dozen bulkers under construction at its Okayama facilities.
