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Morgan Stanley Hires Oil Tanker

Morgan Stanley, the biggest oil trader on Wall Street, has hired a tanker to ship 80,000 tons

Morgan Stanley, the biggest oil trader on Wall Street, has hired a tanker to ship 80,000 tons of fuel oil to the Far East from Saudi Arabia, a shipbroker said.

The tanker Feng Huang Zhou will load fuel oil at Yanbu on July 29. Yanbu is a major Red Sea port in the Al Madinah province of western Saudi Arabia.

Persian Gulf exports to Asia are expected to increase in July, after falling in June due to the increase in the Middle East's demand for marine fuel, PVM Oil Associates GmbH said in a June 26 report.