By Greg Knowler

Hong Kong's shipping stocks clawed back some of the ground lost during the last two tumultuous weeks that culminated in Friday's market plunge.

But analysts warn that shipping shares - especially those of container lines and terminal operators' - will come under pressure as China's export regulations and crackdowns of poor quality goods continues to spook investors.

Shipping stocks had been steadily losing ground this month until Friday when investors began offloading shares.

Orient Overseas (International) Ltd (OOIL), the parent company of container line OOCL, saw its stock fall almost 25 percent in the last three weeks. The price rallied when markets opened today after the weekend but was still well below the HK$94 recorded on August 1.

China Shipping Container Lines slipped 17 percent since the beginning of the month. There was little movement in its price today.

Shipping line to terminal operator China Cosco fell 21 percent since the beginning of the month but rallied strongly in today's trading. Its listed terminal-operating arm Cosco Pacific dropped 15 percent since August 1 but also staged a rally today.

On Thursday [August 23], a Beijing ruling comes into effect whereby exporters must pay a deposit of half the amount they spend importing 1,853 raw materials such as metals, plastics and textiles.

The decree is intended to stem a flood of cheap products that the mainland accuses of contributing to growing pollution.