The Caravel Group

𝐄𝐦𝐛𝐫𝐚𝐜𝐢𝐧𝐠 𝐎𝐮𝐫 𝐄𝐧𝐜𝐨𝐦𝐩𝐚𝐬𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲: 𝐀𝐧𝐧𝐨𝐮𝐧𝐜𝐢𝐧𝐠 𝐓𝐡𝐞 𝐂𝐚𝐫𝐚𝐯𝐞𝐥 𝐆𝐫𝐨𝐮𝐩'𝐬 𝟐𝟎𝟐𝟑 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 The Caravel Group is proud to continue our commitment to an environmentally sustainable maritime future and innovation. Launched in 2022, our Encompass strategy focuses on four pillars: Navigating Responsibly, Evolving Environmental Stewardship, Safeguarding People, and Working Together. 2023 Highlights: • 𝐍𝐚𝐯𝐢𝐠𝐚𝐭𝐢𝐧𝐠 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐥𝐲: Joined the UN Global Compact, aligned with the Sustainability Accounting Standards Board (SASB) Standards, implemented a Group Human Rights Policy, and upgraded our NOVA data analytics platform to manage fuel efficiency, comply with emission standards, and provide transparency. • 𝐄𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐒𝐭𝐞𝐰𝐚𝐫𝐝𝐬𝐡𝐢𝐩: Conducted biofuel trials, explored ammonia feasibility, and adopted energy-saving technologies like wind propulsion and ultrasonic antifouling systems. • 𝐒𝐚𝐟𝐞𝐠𝐮𝐚𝐫𝐝𝐢𝐧𝐠 𝐏𝐞𝐨𝐩𝐥𝐞: Focused on health, safety, and development with mental health programmes and gender sensitisation training. • 𝐖𝐨𝐫𝐤𝐢𝐧𝐠 𝐓𝐨𝐠𝐞𝐭𝐡𝐞𝐫: Increased female seafarers by 33%, provided Diversity, Equity, and Inclusion training for key board members, and celebrated rescues by our seafarers. As our industry evolves, we look forward to innovating together, upholding our values, and navigating future challenges with resilience. Read our Responsibility Report here: https://bit.ly/4c59i6P Feel free to reach out with any questions or comments! #TheCaravelGroup #ResponsibilityReport2023 #Sustainability #Maritime

Have you picked up this week’s issue of TradeWinds? Angad Banga, COO of The Caravel Group and Capt. Raja Subramaniam, incoming CEO of Fleet Management Limited, share their vision for the future: decarbonisation, technological advancements, and the crucial importance of human capital and talent development in shaping the maritime industry’s next frontier. Read the full article in Page 5 of this week’s issue, and here: https://lnkd.in/gRkNAeBw

As Hong Kong Maritime Week winds its way to a close, congratulations to everyone involved in a spectacular week of events. As Chairman of The Hong Kong Shipowners Association, Angad Banga JP highlighted the importance of collaboration to tackle common challenges facing the maritime industry. During the International Chamber of Shipping Global Maritime Trade Summit, Mr Banga highlighted the importance of upholding free trade principles to keep trade routes moving amid disruption – from conflicts to rising protectionism, and set a fair playing field for countries in the Global South. As a global maritime hub, Hong Kong played host to many vital discussions with international partners this week. “We are forging ever-stronger global bonds, as exemplified by the presence of the ICS and IMO, as well as the World Trade Organization and the United Nations Conference on Trade and Development. Their presence illustrates the strength and diversity of the partnerships required,” said Mr Banga. Hong Kong Maritime Week also focused on the city’s role as a ‘super-connector’, and the exciting policy developments in Hong Kong and the Greater Bay Area. Participating in the World Maritime Merchants Forum on Monday and Tuesday, Mr Banga explained how the Association and its members are working with the HKSAR Government and the central government in Beijing to sustain Hong Kong’s leadership as a global maritime hub. Wednesday delivered more lively discussion. This time at the XINDE MARINE NEWS Marine Forum. Later in the day, Mr Banga presided as Chair of the HKSOA Annual General Meeting and led the festivities that followed at the annual cocktail reception, a forum for fostering connections among members and partners. On Thursday, the Caravel Group proudly supported The Captain's Table as a Platinum Sponsor. The Live Final showcased entrepreneurs and groundbreaking ideas. Congratulations to all this year’s winners. The week closes this evening with a special celebration of Fleet Management Limited’s 30th anniversary, raising a toast to the company’s many successes. #marinetrade #shipping #maritimetrade #hongkong #oceantransportation

Angad Banga JP, Chairman of The Hong Kong Shipowners Association and COO of The Caravel Group, joined the Association's partners and friends for the AGM and cocktail reception - a highlight of the Hong Kong Maritime Week calendar. Angad Banga said: "This past year has truly demonstrated the vital role our industry will play in Hong Kong's future. Our Association is committed to driving Hong Kong forward as a progressive, innovative, and sustainable global maritime hub. Perhaps more importantly, it shows the role we contribute to growing the economy of this great city we call home." Congratulations to the HKSOA Secretariat for the excellent events!

“Cyprus in HK! Great to meet with Honorary Consul Dr Harindarpal (Harry) S. Banga, Cyprus Deputy Minister of Shipping Marina Hadjimanolis & Ambassador to China Frances-Galatia Lanitou Williams during the HK Global Maritime Trade Summit. The maritime sector is critical to international trade and the 🌍 global economy with over 80% of the volume of international goods transported by sea. Crucial that the maritime industry & policymakers continue to work closely together to tackle challenges ahead (including the need to tackle climate change) and ensure continued adaptability and resilience!” - Harvey Rouse, Head of Office

Thank you Sam Chambers and Splash Maritime and Offshore News (splash247.com) for sitting down with Dr Harry Banga, Chairman and CEO of The Caravel Group , Dr Kishore Rajvanshy, Managing Director of Fleet Management Limited, and Angad Banga JP, COO of The Caravel Group, to reflect on 30 years of growth and evolution. In partnership, Splash 247 and Fleet Management Limited have published a special issue. Read our story here: https://lnkd.in/g9Puw5-3 #Fleetat30 #FleetStories #maritime

Reporting from Hong Kong Maritime Week, TradeWinds spotlights the challenges facing the maritime industry - from the rising protectionism to climate change. Angad Banga JP, Chairman of The Hong Kong Shipowners Association and COO of The Caravel Group, tackled the themes in his opening address to the International Chamber of Shipping Global Maritime Trade Summit. The article quotes his speech: “We cannot undersell the importance of maintaining maritime free-trade principles to keep goods moving safely and uninhibited at sea. The common rules, the common understanding, has fuelled our success and our industry must not lose sight of this,” said Mr Banga. Read the full article here: https://lnkd.in/gybv2Ydp

In his capacity as Honorary Consul of Cyprus in Hong Kong, Dr Harry Banga hosted H.E. Frances-Galatia Lanitou Williams, Ambassador to the People's Republic of China, and Ms. Marina Hadjimanolis, Deputy Shipping Minister, for a week of dialogue with the global maritime industry and political partners in Hong Kong.

Welcome Captain Rajalingam (‘Raja’) Subramaniam.

We are delighted to announce the appointment of Captain Rajalingam (‘Raja’) Subramaniam as our new Chief Executive Officer. Captain Subramaniam will succeed Dr. Kishore Rajvanshy, who has served as Managing Director of Fleet Management Limited since the company’s inception thirty years ago and spearheaded Fleet’s growth into the world’s second largest third-party ship management company. Dr Rajvanshy will transition to "Managing Director Emeritus" and remain as a "Non-Executive Director" in a senior advisory role. We are profoundly thankful for his years of service, friendship and the lasting impact he has made on the maritime sector. A seasoned leader and a highly qualified maritime professional, Captain Subramaniam combines first-hand seafaring experience as a Master Mariner with strong business acumen. Formerly the President & Group CEO of the MISC Group, he strengthened the Group’s standing as a dominant force in the global shipping and offshore industry, steering the company amid a shifting landscape of complex challenges, from economic uncertainty to evolving environmental regulation. Captain Subramaniam has demonstrated his adept ability to deliver growth, innovation, and champion excellence, all of which he will bring to Fleet as he steers the company towards new horizons, building on our legacy of safety and quality. Captain Subramaniam joins Fleet on Monday, October 21, 2024, as “CEO Elect,” and officially assumes the role of Chief Executive Officer on Wednesday, January 1, 2025. Read more here: https://lnkd.in/dQ526sdr