Shipping is one of the principal facilitators of global economic growth and supports international trade. Thus, a birds-eye view of the global maritime trade is adequately capable of presenting the integral nature of marine fuel thus partly responsible for sustaining the marine fuel market.
The global GDP during 2019 diminished to 2.5 %, which was 3.1 % which was registered in 2018 and 1.1 % point below the historical average in 2001–2008. Further, both developing and developed economies were affected which demonstrated the persistent trade tensions between China and the United States and the overall deterioration of the economy.
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