For many years the transatlantic trade has been characterised by a strong westbound headhaul, as well as a cargo imbalance. But largely due to a combination of the sluggish US economy and weak dollar, this is changing rapidly. As Chris Thorby reports, by some forecasts the eastbound leg may become the headhaul within a year from now. According to a number of ocean carrier executives, what is happening now in the transatlantic trade would have been inconceivable even a year ago. One senior director told CI that a 'fundamental shift' is taking place, to the extent that the eastbound may replace the westbound leg as the headhaul within a year from now. This major change is largely due to the continuing sluggish US economy, particularly in the construction/housing industries, and weak US dollar against the euro and other major currencies, making imports more expensive.
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