Hong Kong-based The Caravel Group has bought the International Maritime Institute (IMI) for an undisclosed sum, with an aim to invest in the long-term education and development of maritime professionals.

“The lessons that I learned at the Training Ship (T.S.) Dufferin have stayed with me throughout my career. It is vital that we create opportunities for the next generation to learn and succeed,” said Caravel’s chairman and CEO Dr Harry Banga.