January 16, 2009 Morgan Stanley to secure supertanker to store crude oil Leo Lewis, Asia Business Correspondent Shipping brokers in Tokyo say that Morgan Stanley has joined a growing international scramble to secure an oil supertanker and use it to store millions of barrels of crude in what commodity dealers believe may be the “trade of the year”. The rush to snap-up supertankers and profit from the huge “contango” spreads between the falling crude spot price and rising futures price comes amid dire warnings by analysts over the future of the wider shipping industry. Massive overcapacity and slumping global trade...
