Caravelle Global is a marine transportation technology company. We have a legacy as a successful and growing bulk shipping company based out of Singapore with routes to 50 countries and more than 100 ports, with a capacity of more than 6 million tons per year.

We are adding a new service that is leading a green revolution for the shipping and lumber industries. We invented a patent pending process that we call CO-Tech, where we use heat from our ships’ exhaust to dry wood during transportation. Contrast this to the traditional wood desiccation process where lumber companies must build and maintain expensive wood drying facilities, spend money on energy to heat the wood, and emit massive amounts CO2.

Caravelle installed the equipment on the first ship in 2022 and is now offering the wood drying service. This is a great business opportunity for the company as after the drying pods are installed there is very little added expense for drying the wood as we are putting to work the heat already created by our ships’ engines. In addition to the fees that we charge for drying the wood, we will also be able to sell the wood vinegar byproduct and believe that we will be able to qualify for valuable carbon credits for being the world’s first carbon neutral shipping company. All told, we see the revenue potential from wood drying to be higher than our shipping revenue and as it is very profitable it will also offset the cyclical nature of the shipping business.