Vard Holding's Brazilian shipyard Vard Promar has posted a loss of BRL 610m ($172m) for 2015, treble that of 2015.
The Ipojuca-based plant also ended the year with assets of BRL 2.3bn and liabilities of BRL 3bn, the Valor Economico daily reported,
The Fincantieri-owned joint venture had revenue of BRL 951m.
The shipyard started operations in 2013.
In February, Singapore-listed Vard Holdings said its fourth quarter loss of NOK 170m ($19.5m)
