Hyundai Heavy Industries slipped further into the red than analysts had anticipated during the second quarter.

The world’s largest shipbuilder saw its bottom line fall KRW 249.1bn ($220m) below zero in the three months to the end of June.

This was some way below the KRW 80.03bn loss projected in the market and deeper than the KRW 164.65bn loss at the bottom end of the range, according to Bloomberg.