The Caravel group, run by Harindarpal 'Harry' Singh Banga (pictured) (net worth: $2.8 billion), operates the world's second-largest third-party shipping management company, handling over 650 vessels and managing assets worth over $35 billion.
In addition to running its fleet, the group trades in iron ore and invests in companies like Nykaa.
Banga is now preparing for a fundamental shift in the shipping industry, which will require hiring digitally savvy seafarers and undertaking large-scale reskilling and upskilling of existing crews. This is necessary as new ships will be required to achieve zero carbon emissions by 2050. These "energy transition" vessels will run on alternative fuels such as liquefied natural gas, ammonia, methanol, and hydrogen.
Esta historia es de la edición March 13, 2025 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición March 13, 2025 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Choose policy with guaranteed bonus, unaffected by claims
With medical inflation at around 15 per cent annually, one way customers can mitigate rising costs is by opting for policies with attractive bonus features.
East Trails in Housing Finance as South, West Dominate
As of Sept 2024, outstanding individual housing loans stood at ₹33.53 tn: NHB report
GenAI Influence Fuels Demand for Specialized Engineering Job Roles
Signals transformation in what is expected of fresh engineering grads
The Limits of Combating Global Tax Evasion
Despite policy efforts, MNCs and HNIs continue to evade taxes as international agreements remain elusive
State's engineering talent makes TN attractive for GCCs
Global capability centres (GCCs) can play a role in Tamil Nadu's race to become a $1 trillion economy by 2030 because these organisations focus more on high-value technology, product innovation, and research & development (R&D) aided by the state government's policies.
MP Tables ₹4.21trn Budget
Madhya Pradesh Deputy Chief Minister and Finance Minister Jagdish Devda presented a ₹4.21 trillion Budget for the financial year 2025-26 in the state Assembly on Wednesday.
India, Mauritius Elevate Ties to 'Strategic' Level
India and Mauritius on Wednesday elevated their ties to an \"enhanced strategic partnership\" and signed eight agreements to boost cooperation in several sectors, including trade and maritime security.
What states want
Ministers on the panel
Equity MF Inflows Down 26% In Feb
Active SIP a/cs decline from 102.7 mn in Jan to 101.7 mn in Feb
Indians Among Our Biggest Job Applicants, Says Riyadh Air CEO
Discussions on with IndiGo, Air India for Mutually Beneficial Partnerships
