Despite the threats of trade wars and sanctions, the global economy is performing well and that is expected to remain the case for at least another 12-18 months. This gives the freight market a positive platform in the near term, with trade growth expected to exceed the strong GDP performance. But from 2020 the picture is more mixed, with a cyclical slow-down forecast. And unfortunately for the dry bulk market, this coincides with the growth in output from shipyards. Time to make hay while the sun shines?