Dry CargoGreater China

Caravel makes owning debut with kamsarmax brace

Hong Kong-based Caravel Group has made its dry bulk ship owning debut with the acquisition of two kamsarmax vessels from Japan’s Nisshin Shipping.

The two 81,093 dwt sister vessels, Hanton Trader V (built 2015) and Hanton Trader Vi (built 2016), were reported sold en bloc for $48.5m by brokers earlier this month. While brokers indicated Greek buyers, Splash can reveal that Harry Banga-owned maritime and commodity group Caravel is behind the deal.

The buy marks Caravel’s entry into shipowning, as an extension to the nearly 500 ships technically managed by Fleet Management, and having exclusively chartered in ships since forming their dry bulk operating business in 2014.

The acquisition was confirmed to Splash today by group COO Angad Banga.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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