Indonesia's Buana Lintas Lautan (BULL) sees bigger profit ahead after a strong first quarter that saw it benefit from its expanded fleet.

The product tanker company called its performance "outstanding" as net profit to 31 March hit $19.7m, from $4.1m a year ago.

The 2020 figure includes a gain of $6.3m primarily due to non-cash foreign exchange effects, as some of the company’s borrowings are in the weaker Indonesian rupiah, while it reports in US dollars.