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Marine Fuel Services Market Forecast Research Reports Offers Key Insights
Marine Fuel Services Market
Around 90% of global trade is seaborne; hence, maritime transport plays an important role in the global economy. The global oil & gas exploration activities and seaborne trade are expanding, providing benefits to consumers across the world through competitive freight costs.
Marine fuel services play a vital role in the efficient functioning of the maritime sector by providing fuel to vessels and fleets whenever and wherever required
Marine fuel services can be provided onshore and offshore. Service providers have fuel storages stations, dispensing units, storage vessels, and cover a specific distribution area.
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Key Drivers of Global Marine Fuel Services Market
Demand for marine fuel services is expected to increase in the near future owing to rise in offshore exploration and production of oil & gas reserves across the globe. Offshore drilling activities have also been increasing. According to the World Oil, around 27,000 wells were drilled in the U.S. in 2018 compared to around 24,000 in 2017.
Growth in seaborne trade and oil & gas exploration activities is anticipated to boost the global marine fuel services market in the next few years
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