The Banga family and their Caravel Group have acquired the International Maritime Institute, a leading seafarer training facility in India, to address the growing demand for qualified young talent in the global shipping industry.
Through the purchase Caravel aims to make a long-term investment in maritime education and create lifelong career opportunities for aspiring seafarers, the company said in a statement.
“Seafarers are the backbone of global trade, and investing in their education is not just a responsibility — it is a necessity,” said Caravel chairman and chief executive Harry Banga.
The Hong Kong-based, family-owned group owns Fleet Management, one of the world’s largest shipmanagement companies, along with other businesses in dry bulk logistics and asset management.
The deal will also allow Caravel to leverage IMI’s expertise to advance training programmes for its own 28,000-strong global workforce.
Launched in 1991 by a group of mariners, IMI, located in Noida, India, is a well-established and recognised maritime academy, specialising in pre-sea training for cadets.
The school is expected to play a key role in skills development as the industry undergoes digitalisation, automation and an increasing focus on sustainability, said Caravel chief operating officer Angad Banga.
IMI will continue to develop future ship officers through its pre-sea training programmes, while also introducing specialized courses in emerging maritime technologies, alternative fuels, and sustainability-driven operations.