Hong Kong-based Caravel Group has upped its shipowning exposure in containerships and dry bulk this year with under-the-radar transactions.

Chief operating officer Angad Banga told TradeWinds that the company increased its stake in containership owner Mandarin Shipping via a secondary purchase of shares.

Tim Huxley and William Fairclough-led Mandarin owns five 1,730-teu Zhejiang Ouhua-built feeder container sisterships delivered in 2016 and 2017.