The ghost ship icon is showing the hypothetical location that ship will be at by the time you reach that waypoint you are setting.
That is of course so long as that ship maintains present course. It could for all you know change course at some point.
Took me a while to figure what that was myself, but that's what it is and I can see where this will be quite helpful when trying to lay in an intercept course. Sure takes a lot of the work out of it.
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"Chance favors the prepared mind"
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