of business. Banga has been Chairman and CEO of the Group since its inception. Caravel Maritime – into which Fleet Management Limited was injected in 2014 – encompasses the Group’s maritime interests. With more than 550 vessels under management, Fleet Management is one of the world’s largest third-party ship management businesses. Caravel Maritime also includes Caravel Shipping, which provides in-house and third-party dry bulk commercial and chartering services, as well as maritime asset ownership – Caravel has a growing fleet of its own vessels – and other maritime investments. Caravel Resources is engaged in the trading of industrial dry bulk commodities, with a focus on raw materials for steel making and power generation – principally iron ore, coal and coke. Caravel Asset Management makes direct investments in global liquid asset classes, as well as alternative investments such as private equity and hedge funds. Its portfolio includes strategic investments in selected growth businesses such as Nykaa in India and Young Master Brewery in Hong Kong. It operates with a strong focus on risk management to sustain returns through market volatility. Philanthropy Harry Banga is known for his philanthropy, exercised primarily through The Caravel Group’s charitable arm, The Caravel Foundation Limited. The Caravel Foundation awards scholarships to help deserving students attending Dartmouth College, Duke University and Princeton University. In Hong Kong, it has a close partnership with the City University of Hong Kong (CityU). The University’s Indra & Harry Banga Gallery is named after Harry Banga and his wife Indra. Always a supportive partner in Harry’s activities, Indra Banga is a Director of both The Caravel Group and The Caravel Foundation. Other positions and honours Fellow of The Institute of Chartered Shipbrokers. Former member of the Executive Committee of the Hong Kong Shipowners Association. Honored in 2011 with the Pravasi Bharatiya Samman Award, the highest distinction conferred by the Indian government on overseas Indians. In 2018 the National Maritime Day Celebrations Committee and the Directorate General of Shipping, India, honored Banga with the NMD Award of Excellence. Honorary Fellow of City University of Hong Kong, conferred in October 2018. Honorary Doctor in Business Administration for his significant contributions to education and the well-being of society from the City University of Hong Kong (CityU), conferred in August 2020 Member of the Court of City University of Hong Kong. Named as a “Most Influential Business Leader of Asia” by The Economic Times in 2019