Caravelle International Group reports improved financial results for April 2024

Caravelle International Group reported interim unaudited financial results for the period ending April 30, 2024. The company generated approximately $35 million in revenue and achieved an operational income of about $150,000, a notable recovery from a $7 million loss during the same period in 2023. The CEO highlighted improvements in business structure and operational efficiency, despite ongoing weak demand in the freight sector. Caravelle is exploring partnerships in carbon capture technology to address emissions in shipping, anticipating a growing market value in this area. Caravelle focuses on enhancing shipping efficiency and promoting sustainability in the marine industry. The company is headquartered in Singapore and aims to lead in on-board carbon capture solutions.