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COSCO bets wrong way on FFAs, loses 4bn yuan

Hong Kong: China COSCO Holdings was up 0.02 yuan at 8.80 in Shanghai yesterday. The stock tumbled 5.18% on Wednesday after booking a loss of 3.95bn yuan from forward freight agreements signed earlier this year. The company has said the outlook for the final quarter of this year was "very tough". [18/12/08]

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