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At least 16 percent of the world’s shipping fleet, by deadweight tonnage, is registered in Panama, including 39 percent of the 288 vessels that United Against Nuclear Iran, an organization I advise, has identified as suspected of participating in Iran’s foreign-flagged ghost armada.

Dwt stands for deadweight tonnage.

The company’s opening rigid steel sail concept, Lotus, could be retrofitted onto 6,100 bulk carriers over 10,000 deadweight tonnage –sailor speak for the sum of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew– immediately and thereby reduce fuel consumption by between 20 percent and 40 percent, according to a company presentation.

OceanFreight owns four capesize and two panamax ships with a weighted average age of six years, and deadweight tonnage of 859,622 tons.

Currently, General Maritime owns 31 tankers with a total carrying capacity of about 4 million deadweight tonnage.