Caravelle International Group, a global ocean technology company, announced that through its Singapore Garden Technology subsidiary, it has signed a 3-year procurement contract with Bestwood Joinery worth $60 million.
According to the contract, Caravelle will source 120,000 cubic meters of various species of lumber from Indonesia, to later transport the lumber to Bestwood Joinery in Cape Town, South Africa, and finally dry the wood in transit using Caravelle’s CO-Tech technology using only recycled heat from the ship’s engine.
CO-Tech is a new development building upon the existing shipping business. It enables wood desiccation during the maritime shipping process, with full utilization of the shipping time, space, and the waste heat of exhaust gas from the shipping vessels.
Bestwood Joinery is a leading South African manufacturer of custom hardwood doors and windows and will be using the wood supplied under this contract to build those products.
“This partnership aligns perfectly with our values,” said Naldema Hardenberg, Chief Executive Officer of Bestwood Joinery. “With Caravelle’s innovative CO-Tech technology, we can continue to provide our customers with premium quality wood products while also doing our part to protect the planet for future generations.”
“It’s inspiring to see companies like Bestwood Joinery prioritizing sustainability and taking action to reduce their carbon footprint,” said Dr. Guohua Zhang, Chief Executive Officer of Caravelle. “We are proud to have them as our first major client for CO-Tech wood drying in transit, and we look forward to continuing to work together towards a more sustainable future.”
