EV Cargo CEO Updates Bloomberg On Status Of Global Supply Chains

2022 (January-June) Portfolio Company News

EV Cargo Founder, Chair and CEO Heath Zarin represented the international logistics industry when he discussed the challenges facing global supply chains during an appearance on international business channel Bloomberg.

Speaking to David Ingles and Yvonne Man on Bloomberg Markets: Asia, Heath said the impact of lockdowns in China had exacerbated existing supply chain constraints on a global basis, but the fact the country was gradually reopening was good news for the sector.

However, he also pointed out that while more ocean freight volume had actually left China this year than in the previous 12 months, as many as 300,000 container units had still to leave the country.

“That is something that needs to be worked through, and so the likelihood is that disruption to ocean freight this summer will be similar to what we saw last year,” he said.

“The world needs to be prepared for more volatile and expensive global supply chains, and there is a need to have other markets to source from in addition to China. While China will always continue to play an indispensable role in global manufacturing, we are seeing increasing ‘dual-sourcing’ from other parts of South-East Asia – and a shift from ‘just-in-time’ to ‘just-in-case’.”.

Heath also updated on EV Cargo’s business growth strategy to surpass $3 billion of revenue through a combination of organic expansion, mergers and acquisitions.

“We are planning for US entry for EV Cargo in the next 12 months and reviewing a pipeline of more than 10 acquisition opportunities,” he added.

The full interview can be viewed here:

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