One of the biggest questions for tanker owners and investors has been when the IMO 2020-led rally will begin.

How about right now?

After slowing down for most of the first half of the year, refinery throughput is beginning to pick up and looks poised to kick into high gear through the autumn. That is expected to bump up tanker ­demand — and create a ramp to higher rates brought on by the ­incoming emissions regulations.