Wednesday saw shares in the world's largest supertanker specialist Frontline Ltd. going down 5.35% in New York trading.
Tsakos Energy Navigation Ltd and Overseas Shipholding Group, Inc (OSG), both listed in New York, suffered a 5.13% and 3.55% loss in share price respectively.
Greece's Nasdaq-listed TOP SHIPS Inc. lost 4.85% of its share price.
Tanker companies listed outside the US were not spared, with shares in Euronext Brussels-listed Euronav NV losing 9.30% in Wednesday trading.
Reports say Wednesday's losses were also driven by OPEC's downward revision of its world oil-demand growth forecast from 1.17% to 1.02%.
Bearish global financial markets have subdued energy demand, market traders said, adding that turmoil in the financial markets, which began following the collapse of US investment bank Lehman Brothers, had led to losses across the board including in the shipping industry.
The Philadelphia Stock Exchange's Marine Shipping Index lost 18.38 points, or 5.6%, to touch 309.31 in mid-afternoon trading on Monday.
The slump carried on into Wednesday despite the US Federal Reserve's $85 billion rescue of the American International Group, Inc. (AIG) from bankruptcy.
The Philadelphia Stock Exchange's Marine Shipping Index dropped another 17.79 points, or 5.6%, to hit 297.96 in midday trading on Wednesday.
The Claymore/Delta Global Shipping fund, which is mostly made up of US-listed shipping stocks, shed 5.1% to reach $20.41.
It has been suggested that investors might be selling shares in shipping to cover deals in other sectors.
One broker however, pointed out to Tankerworld today that “shares in other sectors of shipping are apparently getting hit harder than tanker companies.”
“Stocks of listed tanker owners have been softening anyway ever since the recent crash in freight rates; it is not fair to say that the US financial crisis is solely responsible for hurting them,” he added.