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Weaker pound makes UK hauliers more competitive
Page 8
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By Chris Tindall THE POUND'S weakness against the euro has given a small ray of hope to UK-based international hauliers and those who are trying to compete with foreign firms undertaking cabotage, because it makes UK businesses that much more competitive.
Despite being stung by soaring fuel prices and a global economic downturn, UK haulage businesses are a more attractive proposition to foreign exporters than they were 12 months ago, according to Freight Transport Association chief economist Simon Chapman.
The strong euro has led to cheaper UK haulage services, particularly when compared with other Western European countries.
Chapman reveals: "Some of the accession states are still running their own currencies. [But] I suspect those particular currencies are more closely aligned to the euro than the dollar, where ours is.
"Certainly on just a competitive basis, with UK hauliers trying to compete with cabotage hauliers, it's good news. Conceivably, it's also good for UK international hauliers since sterling is relatively weak against the euro. And UK hauliers are better able to capture those exports and make headway in the international market."
But, Chapman is unconvinced the overall competitive position will change much, because the gulf between haulage costs in the UK and in Eastern Europe is so great.
"It's a more positive picture," he concludes. "But we have a lot of ground to make up."