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The global oil-tanker fleet will expand by 86.5 million deadweight tons in the next two years, equal to about 27 percent of existing capacity, The extra ships would exceed the previous record of 79.8 million deadweight tons set in 1974 and 1975.
Flags of Convenience: The largest shipping registries are Panama, Liberia, Greece, Marshall Islands and the Bahamas, Approximately 6,300 sail under the Panamanian flag, making Panama the largest. The Greek-controlled fleet is at almost 90 million gross tons. The Marshall Islands is fourth with 1, 500 vessels and 37 million tons. Bahamas has 1,500 vessels at 27 million tons. Other significant flags include Cyprus and Malta
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