At least 24 cargo shipping company stocks lost more than 5% in the day, including several of the two exchanges’ largest shipowners by market capitalisation.

Analysts tied the drops to negative data out of China, including the announcement of a coal import tariff, not to mention concerns about oil growth and the global economy.

DryShips led the charge, as TradeWinds already reported earlier today, plunging by 21% to $1.47