Global shipping shares shed billions of dollars in value Monday after China sparked a global stock market rout.

The Dow Jones Global Shipping Index has shed 1.9% at the middle, while a basket of New York shipping-listed and offshore vessel shares tracked by TradeWinds lost 2.3% on a market capitalisation-weighted basis at midday.

The 68 US-listed shares alone lost $2.37bn in market value as decliners outnumbered gaining shares 4 to 1.

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