US bulker owner stocks led a sharp decline in shipping shares as China concerns added to a day of bad news for the sector.

The day saw 16 New York-listed shares lose more than 10% of their value. Most were in the dry-bulk sector, though tanker, containership and offshore vessel owners were also on the list.

The plunge came on a day that broader stock markets declined across the board following another drastic drop in equities in China, where a devaluation of the yuan and other measures aimed at stemming share losses appeared to backfire.

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