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Article: United States : Morgan Stanley lifts fuel at sea to over 3 mln bbls.
- Article from:
- TendersInfo
- Article date:
- August 25, 2009
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Byline: manish03
Wall Street bank Morgan Stanley (MS.N) is expected to boost the volumes of gas oil that it is storing on ships off Europe to more than 3 million barrels, industry sources said on Monday.
The bank has leased the Constantinos to store between 450,000 and 500,000 barrels of gas oil off Europe at the end of August, shipbrokers said.
About 72 million barrels of gas oil for heating and jet fuel are being stored in tankers globally, up from around 62 million barrels in June, in the light of uncertain demand from markets in the West going into the peak winter period.
Although the contango on the September/October ICE gas oil ...