Shanghai Zhenhua Heavy Industry (ZPMC), a port machinery and vessel manufacturer, announced its 2012 results with revenue falling 4.57% to CNY 18.2bn.

The Chinese offshore facility builder suffered a huge loss of CNY 1.04bn in the year.

Although ZPMC occupies 70% of the world’s port machinery market, it is still facing many challenges, such as a decrease in new order volume, limited product portfolio, etc.