Tanker operators can look forward to two years of solid income despite concerns over potential oil production cuts and price hikes, Bimco says.

Increased sailing distances and record oil consumption will underpin gains, with the crude tanker market expected to grow up to 6% next year and 3% in 2025, according to the shipowner group’s fourth-quarter outlook.

The product tanker market is expected to grow by a similar amount next year, but half a percentage point lower than the dirty sector in 2025.