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Glossary "P"

Panama Canal

Artificial waterway in Panama connecting the Atlantic and Pacific oceans. The canal is about 80 km (50 miles) long and is made up of three sets of locks and two lakes...

Panamax

Bulkcarrier of about 65,000-82,500 dwt. The largest type of vessel able to pass through the Panama Canal.

Persistent oil

(Svært opløselig olie)

PG

Persian Gulf. Synonyms: Middle East Gulf (MEG); Arabian Gulf (AG).

Pool

A group of vessels with similar characteristics, with different owners but commercially operated together.

Post-Panamax

A new segment comprising bulkcarriers of about 85,000-120...

Product tank

Propulsion resistance

(Fremdrivningsmodstand)

Protection & Indemnity

The most important shipping liability insurance.

Purchase option

Put option

A right, but not an obligation to sell the underlying instrument at the strike price.