US-listed shipping equities have partially recovered from recent lows, but remain sharply down for the year.

At the closing bell on Aug. 28, the 53 shipping companies listed on NYSE and NASDAQ were down 46% from their 52-week highs, according to an analysis by IHS Maritime. Over nine-tenths of these declines preceded the recent market gyrations.

On Aug. 24, at the peak of the latest selloff, shipping shares had lost 15% of their value compared to their Aug. 17 closing price. After a subsequent rebound, they were down 5% Aug. 28 versus Aug. 17.

During the last two weeks of August, shipping shares fell by more than the Dow Jones Industrial Average and dry bulk shares dropped by more than either tanker shares or shipping stocks in general. On Aug. 26, dry bulk shares were down 16.5% from their Aug. 17 closing price.

Trading volume in shipping equities surged during the last week of August. There were 44.9 million US-listed shipping shares traded on Aug. 24, up 83% from Aug. 17. Trading volume fell back to 26.1 million on Aug. 28. During the August 17-28 period, tanker shares were the most heavily traded, representing 43% of overall volume.

The trading in shipping shares continues to be volatile. Following their partial recovery in the prior sessions, shipping shares were down yet again in early trading on Aug. 31.