The Okean shipyard in Mykolaiv, Ukraine, has turned in a loss for 2011 as revenue was chopped by half.



The net deficit to 31 December was UAH 110.39m ($13.73m), compared to UAH 36.9m in 2010.



Revenue fell to UAH 71.34m, as compared to 2010.



In November 2011, Smart Holding of Kiev assumed operational management of the former Wadan Yards Okean.



It had been bought by Olympus Investments of the Netherlands in April last year.



Wadan