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Before the spread of the mysterious respiratory virus in China, The Drewry Research Institute had predicted that the dry bulk and tanker market will continue to move on a positive wave in 2020. Dry bulk trade is projected to increase by 5.58 billion tons that shows 3.7% growth. Recent estimates also show that dry bulk trade has reached 5.39 billion tonnes in 2019, representing a rise of 4.5%.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. There is a direct link between GDP growth and upward trend in the maritime transportation. In order to delve into this issue,
The role and impact of transportation on production, job opportunities and the national economy of countries cannot be overlooked. Transportation, particularly maritime transportation can be considered as mainline and the strategic point of imports, exports and income of countries.