Caravel Group: A pioneering spirit

Combining the energy of a start-up company with decades of experience, Caravel Group is on a mission to provide high-quality and cost-effective value-added services to clients. As a young company established just four years ago,Caravel Group is making wave sunder the leadership of Founder, Chairman and Chief Executive Officer Harry Banga.

Formerly Vice Chairman of Noble Group, Harry spent years as a commodities trader and understands the industry better than most.

“We have always prided ourselves on our business practices and our focus on reliability, trust, efficiency and quality continues to drive us as a company”, says Harry. “Our clients appreciate our ability to guarantee complete and cost-effective solutions while delivering synergies through our integrated supply chain operations”.

The caravel, a revolutionary ship with the ability to sail into the wind, was used by pioneering explorers such as Christopher Columbus during the ‘Age of Discovery’ and ushered in a new era of global economic activity.

By the same token, Caravel Group is able to swiftly adapt to dynamic market changes while continuing to deliver tailored solutions to the maritime, metallurgical and energy industries.

Today, the Group’s three primary business areas are maritime, resources and asset management. With 700 onshore staffers and 18,000 seafarers on over 430ships under its vessel management business, Caravel Maritime’s Fleet Management Limited is one of the world’s largest independent third-party ship management firms and represents a significant part of Caravel Group’s maritime business.

Caravel Resources delivers solutions across the industrial dry bulk value chain and is one of the largest traders into China in iron ore, carbons and minor bulks used in the steel and energy industries.

Caravel Asset Management is an institutional investment manager with direct investments in public equity and credit, across all industries.

With a family-lead, lean, entrepreneurial team delivering streamlined services in line with the company’s conservative risk management model, Caravel Group is well-positioned for growth.

“While we are a family-owned business, we remain disruptive innovators within the industry”, says Angad Banga, Caravel Group’s Chief Operating Officer and Harry’s son. “We are able to leverage my father’s thirty years of commodities experience, our significant capital base, our world-class management team and our start-up mentality while running what is considered to be a traditional business from Hong Kong; perhaps the most economically dynamic region on Earth”.

“While Hong Kong is important to our global strategy, we recognise that Singapore and Hong Kong complement one other as places of business”, says Harry.“Hong Kong is the doorway to China while Singapore allows companies to more easily access Southeast Asia. Businesses today need to attract world-class talent and with our global scale and Asian focus; we have been able to do just that in order to achieve success across Asia and in the key international markets in which we operate”.

Harry concludes: “The world is constantly changing and we understand the importance of adapting to new business challenges in order to achieve success. With ongoing developments taking place across China, the growth markets of ASEAN member countries and the Chinese government’s ‘One Belt – One Road’ initiative connecting China to the world, all eyes are on Asia. As Caravel Group moves forwards, we fully intend to be part of Asia’s economic success story as it continues to gain momentum”.

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