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Economic Outlook: Weak oil demand and lower spending hit seaborne trade

Tankers have seen the biggest fall in trade in tonnage terms this year due to severe drop in crude oil consumption

Coronavirus-related travel restrictions and a decline in household spending are the main factors behind a decrease in global seaborne trade this year. But the drop has not been as bad as originally anticipated in many cases and there are positive signs for a recovery in 2021

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