For observers who follow publicly listed product tanker owners closely, bullish talk from their executives is nothing new.

Some of them have predicted a market upturn many times in recent years, only for vessel earnings to be lacklustre.

But this time, they are finally vindicated.

Ardmore Shipping and Scorpio Tankers posted their best three-month results in years for the first quarter, while d’Amico International Shipping was also doing well.