Supertanker owners from Tokyo to Athens said demand to store oil on vessels is strengthening, with Morgan Stanley and Evercore Partners Inc. predicting the highest shipping rates in six-years are possible. Frontline Ltd., Nippon Yusen Kaisha and Dynacom Tankers Management Ltd., who control 11 percent of the fleet, said orders are multiplying as the global oil glut expands. Brent crude plunged 60 percent since June amid signs OPEC nations are unwilling to tackle a global oversupply they say was caused by U.S. drillers and other producers. The price of oil for delivery at later dates is so far above current costs, a market structure known as contango, that it can be profitable to store cargoes and lock in returns now in the futures market. “This is going to tighten the market and make the entire market move higher,” Fotis Giannakoulis, an analyst at Morgan Stanley in New York , […]