The Caravel Group brochure – March 2019

AN EXEMPLARY TECHNOLOGY TRANSFORMATION

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A TECHNOLOGY TRANSFORMATION SPANNING THE CONTINENT WRIT TEN BY

CATHERINE S TURM AN PRODUCED BY

MIK E SADR

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w w w.c a rave l - gro u p . com

Chief Operating Officer, Angad Banga discusses how digitisation has disrupted the shipping industry

M

aritime transport remains a significant linchpin in the world’s economy. With more than 90% of goods and services travelling

via this route, global sea trade remains a significant driver in the delivery of high-quality products and services. Headquartered in Hong Kong, The Caravel Group, taking its name from 15th century trading vessel, ‘the caravel’, has played a key role in the 04

facilitation of global seaborne trade, with strategic locations situated in China, Cyprus, India, Indonesia, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.

While the group is no stranger to increasing competition across the shipping industry, changes in requirements from industry participants, increasing and changing regulatory regimes and pricing pressures have created a seismic shift in expectations from the industry, with digitisation expected to be the driver of change.

“What makes us unique is our range of qualities: from our agility and spirit, our entrepreneurial drive, integrity and transparency in our operations, as well as our diverse set of business operations across the value chain, which allows us to provide integrated solutions. We are a large company, with the energy

05

of a start-up,” comments Chief Operating Officer, Angad Banga. “It is critical for the organisation to drive change, using the business initiatives we create and build over time.”

Guaranteeing value-added services will be the main differentiator for any business and Banga is keen to embrace and implement new IT and operational technologies (OT) which will demonstrate excellence, each and every time.

As an example, The Caravel Group’s Ship Management division, Fleet Management Limited, which is one of w w w.c a rave l - gro u p . com

The Caravel Group partners with Symantec to defend against cyber threats

Symantec has a wide range of security products. They are the market leader to provide integrated cyber defence solutions and rapid delivery to the cloud.”

- Angad Banga, Chief Operating Officer, The Caravel Group

Businesses are increasing annual spend on cyber security more than ever before. As threats become more advanced, The Caravel Group (TCG) has introduced multiple layers of threat protection across its operations.

Supporting organisations, governments and people to secure their most important data, TCG partnered with leading cyber

CONTACT US Contact_APAC@symantec.com

security provider, Symantec. A market leader in the field, the business delivers integrated solutions across all end-points, and has strengthened TCG’s cloud and infrastructure capabilities, deploying effective, scalable solutions.

A strategic partnership

A secure solution

By partnering with Symantec, TCG has accelerated their journey to the cloud with flexible endpoint detection and response (EDR) technology. The results are significant: Incident responders now quickly search, identify, and contain impacted endpoints, both on premises and in the cloud, integrating all incident data and actions into existing SOC infrastructures and Symantec Endpoint Protection (SEP) environments.

Optimising assets and lowering operational costs were the biggest sellers for TCG, where Symantec’s technologies were deployed in minutes, with no impact on the end-user experience. “Security solutions from Symantec have changed the way we deal with threats." says Banga.

"We are now also implementing Symantec IT Asset Management to centralise all our resources.”

With the successful onboarding of Symantec Email Security.cloud products to eradicate the threat of spam, malware, and trojans, its Target Attack Analytics (TAA) and Dynamic Adversary Intelligence has seen the implementation of cloud-based artificial intelligence algorithms and machine learning. This allows TCG to adapt to new attack techniques automatically and gain greater insight into attacker and technique. By increasing visibility, Symantec also delivers great automated playback capabilities to TCG, bringing the skills and best practices of its most experienced security analysts to the table, lowering costs at every opportunity.

Symantec IT Management Suite integrates with SEP Cloud, extending the visibility of endpoints to include modern devices and operating systems. Reducing the cost of managing servers, desktops, laptops and thin clients from a centralised location, the solution reduced end-user downtime and maximised IT efficiency.

Additionally, by ensuring real-time compliance across TCG’s IT assets and overall operations, Symantec IT Management Suite centralises and simplifies patch management. Symantec’s cloud-enabled management functionality in IT Management Suite puts the security of Windows and Mac users firmly at the forefront, even when they are disconnected from the corporate network.

In-depth reports also offer smarter, faster decisions which ensure endpoints are protected.

For additional information, please visit www.symantec.com or connect with us on Facebook, Twitter and Linkedin.

Copyright ©2018 Symantec Corporation. All rights reserved. Symantec, the Symantec Logo, and the Checkmark Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

The Caravel Group partners with Symantec to defend against cyber threats

Symantec has a wide range of security products. They are the market leader to provide integrated cyber defence solutions and rapid delivery to the cloud.”

- Angad Banga, Chief Operating Officer, The Caravel Group

Businesses are increasing annual spend on cyber security more than ever before. As threats become more advanced, The Caravel Group (TCG) has introduced multiple layers of threat protection across its operations.

Supporting organisations, governments and people to secure their most important data, TCG partnered with leading cyber

CONTACT US Contact_APAC@symantec.com

security provider, Symantec. A market leader in the field, the business delivers integrated solutions across all end-points, and has strengthened TCG’s cloud and infrastructure capabilities, deploying effective, scalable solutions.

A strategic partnership

A secure solution

By partnering with Symantec, TCG has accelerated their journey to the cloud with flexible endpoint detection and response (EDR) technology. The results are significant: Incident responders now quickly search, identify, and contain impacted endpoints, both on premises and in the cloud, integrating all incident data and actions into existing SOC infrastructures and Symantec Endpoint Protection (SEP) environments.

Optimising assets and lowering operational costs were the biggest sellers for TCG, where Symantec’s technologies were deployed in minutes, with no impact on the end-user experience. “Security solutions from Symantec have changed the way we deal with threats." says Banga.

"We are now also implementing Symantec IT Asset Management to centralise all our resources.”

With the successful onboarding of Symantec Email Security.cloud products to eradicate the threat of spam, malware, and trojans, its Target Attack Analytics (TAA) and Dynamic Adversary Intelligence has seen the implementation of cloud-based artificial intelligence algorithms and machine learning. This allows TCG to adapt to new attack techniques automatically and gain greater insight into attacker and technique. By increasing visibility, Symantec also delivers great automated playback capabilities to TCG, bringing the skills and best practices of its most experienced security analysts to the table, lowering costs at every opportunity.

Symantec IT Management Suite integrates with SEP Cloud, extending the visibility of endpoints to include modern devices and operating systems. Reducing the cost of managing servers, desktops, laptops and thin clients from a centralised location, the solution reduced end-user downtime and maximised IT efficiency.

Additionally, by ensuring real-time compliance across TCG’s IT assets and overall operations, Symantec IT Management Suite centralises and simplifies patch management. Symantec’s cloud-enabled management functionality in IT Management Suite puts the security of Windows and Mac users firmly at the forefront, even when they are disconnected from the corporate network.

In-depth reports also offer smarter, faster decisions which ensure endpoints are protected.

For additional information, please visit www.symantec.com or connect with us on Facebook, Twitter and Linkedin.

Copyright ©2018 Symantec Corporation. All rights reserved. Symantec, the Symantec Logo, and the Checkmark Logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

the largest and preeminent third-party ship management firms with over 500 vessels under management, has been a key division which has embraced new digital tools. Catering to cargo ship owners worldwide, including bulk carriers, oil, gas and cargo carriers, chemical tankers and more, Fleet Management’s longstanding expertise in technical and management services has been enhanced with innovative software to drive operational efficiency in delivering exceptional end-to-end, 08

value-added solutions to its clients.

Banga notes that its ship management system has the ability to provide close to real-time data to clients, something which was previously unavailable.

“The maritime industry is one of the oldest modes of transport, and has gone

“ Organisations will need to understand the value of technology, how to use it and to actually innovate, using technology as a driver” — Angad Banga, Chief Operating Officer, Caravel Group

09

through several stages of technological

which helps us begin the process of

revolution throughout history. We

digitisation. It means certain applica-

expect to see another impressive shift

tions and certain tasks can be com-

in the near-future. The industry is not

pleted on ships without the network

necessarily considered innovative,

problems we previously encountered.

but is actually hugely complex. Each

Over time, this should hopefully lead

vessel requires a high level of technical

to a higher degree of automation – at

expertise to able to manage it – not just

sea, but also within the offices.”

the engineering and crew itself but also

In the trading of industrial dry bulk

the IT systems and OT systems which

commodities, the group’s Resources

we provide,” he explains. “More and

division has become a key staple for

more ships are getting connectivity,

the steel and energy sectors. Its three w w w.c a rave l - gro u p . com

World-Leading Cyber AI

The Caravel Group Case Study Industry

Maritime

Business Background

Resources

Asset Management

Headquartered in Hong Kong, the Caravel Group is a diversified global conglomerate that provides maritime services, strategic asset management, and trading solutions across the industrial dry bulk value chain.

Challenges Detecting never-before-seen threats at an early stage

Containing fast-moving attacks before they do damage

Gaining complete visibility across complex digital systems

Autonomous response to in-progress threats

100% visibility via the Darktrace Threat Visualizer

Results Real-time detection of novel attacks and subtle insiders

Challenge

Solution

Benefits

As cyber-threats gain in speed and severity, the Caravel Group recognized the importance of cultivating an adaptive and resilient security posture that can keep pace with a rapidly evolving threat landscape. In particular, the business was determined to deploy a cyber AI solution that can autonomously detect and respond to novel threats at an early stage, before they have time to disrupt critical operations, or exfiltrate sensitive data.

To address these concerns, the security team deployed Darktrace’s Enterprise Immune System, which installed in under an hour and immediately started learning the normal ‘pattern of life’ for every user and device in the business.

By continuously learning and adapting its understanding of ‘normal’ in light of new evidence, Darktrace’s cyber AI can detect never-before-seen threats that would otherwise go unnoticed.

With Darktrace AI deployed across its entire digital enterprise, the Caravel Group now has 24/7 autonomous protection against advanced cyberthreats. Through Darktrace’s Threat Visualizer, the security team has complete visibility of every user and device and can investigate emerging threats in real time.

With Antigena defending our network around the clock, we can finally prioritize strategically important activities while Darktrace’s AI works in the background to contain the threats that get through.

Angad Banga, Chief Operating Officer

“The Enterprise Immune System immediately notified us of cyberthreats that our other tools missed,” commented Banga. “Darktrace’s AI has enabled us to rapidly investigate threats before they have time to escalate into a crisis.”

The Caravel Group subsequently deployed Darktrace Antigena, Darktrace’s autonomous response solution. By enforcing the normal ‘pattern of life’ for a given user or device, Antigena works by taking surgical, measured action to contain in-progress threats, limiting damage and stopping their spread in real time. “With Antigena defending our network around the clock, we can finally prioritize strategically important activities while Darktrace’s AI works in the background to contain the threats that get through,” commented Banga.

“Darktrace provides us with actionable intelligence in a few clicks and can identify legitimate threats amid the noise of our complex digital business,” remarked Banga. “With Darktrace, our security team and executives can be confident that cyber-threats that get past the perimeter will be identified and contained before they do damage.”

Darktrace’s Enterprise Immune System is the only solution on the market that can detect and respond to neverbefore-seen threats in real time.

Angad Banga, Chief Operating Officer

w

“ More and more ships are getting connectivity, which helps us move into the digital space. Certain applications 12 and tasks can be completed without the network problems we previously encountered” — Angad Banga, Chief Operating Officer, Caravel Group

main subsidiaries – metallurgical, carbons, and ores and alloys – are safely transported as a result of the group’s robust supply chain and logistics capabilities. Nonetheless, as the need for global shipping services continues to escalate, technology has seen a steady rise in demand – something which Caravel has been keen to tap into by taking a greater look at the high volumes of data accumulated across the group, in order to drive greater value and access further opportunities.

“Much of the data is not captured at source in a systematic manner. When the data is collected, it’s not being effectively utilised, which leads to the question of ‘is the business intelligence there?’ ‘Is there a sufficient level of resourcing?’ There are some companies doing it but I think it’s at an early stage. This is a key area of focus for The Caravel Group. We will be using several tools to enhance data visualisation and modelling through machine learning,” adds Banga. “We already have some of these initiatives underway, and hopefully, these will be a foundation for enabling future generations of tools that are developed to service our clients. Organi-

13 sations will need to understand the

stores, the new app has led seafarers

value of technology, how to use it and

to join the business quicker and make

to actually innovate.”

an immediate difference, boosting

Although technology has grown “in leaps and bounds” and accelerated the transformation of businesses globally,

engagement and seafarer retention levels in the process.

“We can scan a seafarer’s passport

he adds the group’s integrated, pas-

which is then sent back promptly,”

sionate workforce and client-led focus

Banga says. “Previously, it was a fully

is its biggest asset. Blending technol-

manual process, so this has reduced

ogy, creativity and training has therefore

delays in the process. Through the

seen the business build a new applica-

app, users can submit their application,

tion which has fully digitised the seafarer

which provides two options: a quick

experience across their 500 vessels,

application and a full application.

even before they have joined. Acces-

The quick application is where you

sible through Android and Apple

can apply straight away with minimal w w w.c a rave l - gro u p . com

C OMPA N Y FA C T S

• The Caravel Group takes its name from 15th century trading vessel, ‘the caravel’ • Catering towards bulk carriers, oil, gas and cargo carriers, chemical tankers and more, the group’s longstanding expertise has been enhanced with innovative software to drive operational efficiency 14

• Caravel has sought to look at the high volumes of data accumulated, in order to drive greater value and access further opportunities • Blending technology, creativity and training has seen the business build a new application which has fully digitised the employee experience • With the number of security breaches rising each year and expected to hit US$6trn annually by 2021, security has therefore become a key driver for the group

requirements, and we can actually start conversations with seafarers looking to apply to us. The full application is a more detailed application where you put all your certifications and take photos of your details, and this information is then uploaded to our proprietary crew management database allowing our on-boarding teams to reduce their manual processes and focus on the value-add aspect to hiring high quality seafarers. It supports those who are interested in joining, and we have received positive feedback both from

15

the community and the industry,” he

2021, according to Symantec, security

adds. Following its success, the group

has become a key driver for the group.

is now rolling out similar technologies

“While the industry continues to

to transform its quality management

shift, it is essential for us build a digital

systems, utilising tools such as iPads

fingerprint in the industry, but to also

to fully mobilise its inspection and

build the IT foundation needed to

audit processes.

have a good security in place,” he adds

For Banga, implementing such

thoughtfully. “We have a number of

technology has proved highly benefi-

partners on board to support us in the

cial, yet he is cautious not to introduce

delivery of end-point protection. Tech-

new technologies “just for technology’s

nology enables us to further this vision.”

sake”. With the number of security

Symantec has been one such partner

breaches rising each year and damage

which has been instrumental in the

projected to hit US$6trn annually by

transformation of the group’s digital w w w.c a rave l - gro u p . com

£2bn Approximate revenue

1,000 Approximate number of on-shore staff

16

20,000 Approximate number of off-shore staff

17

w w w.c a rave l - gro u p . com

“ I think Symantec’s strength is their ability to be able to operate without needing continual updates every time” 18

— Angad Banga, Chief Operating Officer, Caravel Group

security from an IT perspective.

“Our relationship with Symantec

robust email protection. Previously, the group received a high volume of

started with advancing our digital

malware, which has been reduced

protection, where we explored a

significantly since we implemented

number of products in the security

Symantec’s solution.

space which would help us protect

“I think the biggest strength is their

our end-points. We had limited defense,

ability to be able to operate without

but by expanding our partnership

needing continual updates every time.

further, we have embedded a strong

In some scenarios we need to have a

level of protection,” he explains.

managed anti-virus product that doesn’t

“By implementing tools from Symantec, we can now guarantee

just simply scan for viruses, but really protects the end-point device from

19

external effects. Other products do

dynamic, world-class service to clients

similar things, but Symantec was very

worldwide. With its ewntrepreneurial

satisfactory from a result perspective.

spirit, its diverse portfolio and strong

Following the implementation of the

relationships with clients, partners and

Symantec solution, the number of spam

its stakeholders, the business will

emails stopped in a month was up to

remain agile and responsive to various

15% of total emails received.�

market trends as the shipping industry

As the group continues to pioneer

endures and thrives.

new markets and trade routes, it will look towards the use of new digital tools and partnerships in order to remain a key player in the market and deliver w w w.c a rave l - gro u p . com

The Caravel Group

21st Floor, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong T +852 2100 2000 | F +852 2100 2100 www.caravel-group.com