China State Shipbuilding Corporation (CSSC) affiliated Shanghai Shipyard turned out to have recorded a loss of CNY 1bn (around $163m) during 2012. IHS analyzed that the great loss stemmed from serious delays in constructions of 36 units among 39 newbuildings awarded.

The National Audit Office of China reviewed 2012 CSSC financial statements and recently suggested that the delays in construction is attributable to the Chinese yard's "insufficient studies".

The shipyard inked 39 newbuilding contracts from 2009 to 2011, of which, four general cargo ships, three containerships, and two drillships have not been delivered yet, according to Sea-web.com data.

Meanwhile, the shipyard won orders for 13 vessels from 2012 to June 2014.