The world's second largest third-party ship
management company announces the appointment of
Captain Rajalingam Subramaniam
HONG
KONG, Oct. 7, 2024 /PRNewswire/ -- Fleet
Management Limited ("Fleet" or the "Company"), a part of The
Caravel Group Limited ("Caravel" or the "Group"), announces the
appointment of Captain Rajalingam ('Raja') Subramaniam as the new
Chief Executive Officer. He joins the Company on Monday, October 21, 2024, as "CEO Elect," and
officially assumes the role on Wednesday,
January 1, 2025. Captain Subramaniam will report to Dr.
Harry S. Banga, Chairman and CEO of
The Caravel Group.
Captain Subramaniam will succeed Dr. Kishore Rajvanshy, who has served as Managing
Director of Fleet Management Limited since the Company's inception
thirty years ago. During his tenure, Dr. Rajvanshy has led Fleet
Management Limited's growth into the world's second largest
third-party ship management company. Dr Rajvanshy will transition
to "Managing Director Emeritus" and remain as a "Non-Executive
Director" in a senior advisory role. Mr. Angad Banga JP will
continue to serve as the Group Chief Operating Officer of The
Caravel Group, the parent company of Fleet, and actively support
Fleet's leadership team during this transition.
A seasoned leader and a highly qualified maritime professional,
Captain Subramaniam combines first-hand seafaring experience as a
Master Mariner with strong business acumen. Formerly the President
& Group CEO of the MISC Group, he strengthened the Group's
standing as a dominant force in the global shipping and offshore
industry, steering the company amid a shifting landscape of complex
challenges, from economic uncertainty to evolving environmental
regulation. Captain Subramaniam has demonstrated his adept ability
to deliver growth, innovation, and champion excellence, all of
which he will bring to Fleet Management Limited.
Dr. Harry S. Banga expressed his
enthusiasm for the new appointment: "Captain Subramaniam's
exemplary track record and visionary leadership make him the ideal
choice to lead Fleet Management Limited into its next chapter of
growth and innovation. We are confident that his strategic insight
will elevate and reinforce our commitment to excellence in the
maritime industry."
Additionally, Dr. Banga extended heartfelt gratitude to Dr.
Rajvanshy: "Dr. Rajvanshy's leadership has been the bedrock of
our success. His unwavering commitment to excellence has shaped the
company into what it is today. We are profoundly thankful for his
years of service, friendship and the lasting impact he has made on
the maritime sector."
Reflecting on his 30 years of leadership, Dr. Kishore Rajvanshy said: "It has been an
incredible journey to see Fleet Management Limited grow and thrive
and I am deeply grateful for the support of our talented people and
partners. We welcome Captain Subramaniam and look forward to
working with him to steer the company towards new horizons,
building on our legacy of safety and quality."
Captain Subramaniam said: "I am truly honoured to be
entrusted with this responsibility and to work alongside a team
renowned for its dedication and excellence. My thanks also to the
founding family for their support of my professional aspirations
for the progress of the maritime industry at large. Together, we
will continue to innovate and uphold the highest standards in the
maritime industry, guided by the solid foundation laid by Dr.
Rajvanshy and the Banga family."
Fleet Management Limited will pursue a seamless transition as it
continues to lead in maritime excellence and innovation. The
company extends its heartfelt gratitude to Dr. Rajvanshy for his
visionary leadership and commitment over the past three
decades.
About Fleet Management Limited
Fleet Management
Limited, part of The Caravel Group, is the world's second largest
ship management company, managing more than 650 vessels. This rank
bears testament to the resilience and commitment of 27,000+
seafarers and 1,200+ onshore maritime professionals, serving more
than 130 world-class shipowners. Fleet manages a range of vessels,
including bulk carriers, containers, car carriers, oil tankers, gas
carriers and chemical tankers from 600 to 320,000 DWT in size –
with many being young and energy-efficient with an age profile
below the industry average. The company also has a dynamic
newbuilding supervision department.
www.fleetship.com
About The Caravel Group Limited
The Caravel Group is a
diversified conglomerate headquartered in Hong Kong SAR with three
verticals: Maritime, Commodities and Investment Management. Within
the Maritime vertical, the Group is focused on third-party ship
management, and as well ship ownership – managing operating and/or
owning more than 700 sea-going vessels across the dry bulk,
chemical and gas tanker and container segments. Within Commodities,
the Group is engaged in the trading and logistics of industrial dry
bulk raw materials, namely iron ore and thermal coal. Within
Investment Management, the Group is primarily focused on direct
investments in global liquid markets including public equity and
credit, across all industries. In addition, the Group invests in
alternative investments – mainly private equity and hedge funds –
to diversify risks and sustain long-term returns.
www.caravel-group.com
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SOURCE Fleet Management Limited