<SEC-DOCUMENT>0001213900-22-058020.txt : 20221209
<SEC-HEADER>0001213900-22-058020.hdr.sgml : 20221209
<ACCEPTANCE-DATETIME>20220922163103
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-22-058020
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20220922

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Caravelle International Group
		CENTRAL INDEX KEY:			0001928948
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		60 PAYA LEBAR ROAD
		STREET 2:		#06-17 PAYA LEBAR SQUARE
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			409051
		BUSINESS PHONE:		658348372

	MAIL ADDRESS:	
		STREET 1:		60 PAYA LEBAR ROAD
		STREET 2:		#06-17 PAYA LEBAR SQUARE
		CITY:			SINGAPORE
		STATE:			U0
		ZIP:			409051
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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    <TD STYLE="text-align: left; font-size: 10pt; width: 48%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8239;<IMG SRC="image_001.jpg" ALT=""></FONT></TD>
    <TD STYLE="width: 26%"><P STYLE="font: small-caps bold 10pt/10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Loeb
                           &amp; Loeb LLP</FONT></P>
    <P STYLE="font: small-caps bold 10pt/10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">345
    Park Avenue</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
    York, NY 10154-1895</FONT></P></TD>
    <TD STYLE="font-size: 10pt; width: 26%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Main</B>
    212.407.4000<BR> <B>Fax</B> 212.407.4990<BR> <BR></FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 4in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September
22, 2022</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">United
States Securities and Exchange Commission</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Division
of Corporation Finance</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Office
of Energy &amp; Transportation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100
F Street, N.E.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington,
D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Attn:
Liz Packebusch</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 0.25in; padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Re: </B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Caravelle International
    Group</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amendment No. 2 to Draft
    Registration Statement on Form F-4</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Submitted August 18,
    2022</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="padding-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CIK No. 0001928948</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 55.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 55.35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dear
Ms. Packebusch:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
behalf of our client, Caravelle International Group (the &ldquo;Company&rdquo;), we respond to the comments of the staff of the Division
of Corporation Finance of the Commission (the &ldquo;Staff&rdquo;) with respect to the above-referenced Amendment No. 2 to Draft Registration
Statement on Form F-4 submitted on August 18, 2022 (the &ldquo;Amendment No. 2&rdquo;) contained in the Staff&rsquo;s letter dated September
1, 2022 (the &ldquo;Comment Letter&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company has filed via EDGAR the Registration Statement (the &ldquo;Registration Statement&rdquo;), which reflects the Company&rsquo;s
responses to the comments received by the Staff and certain updated information. For ease of reference, each comment contained in the
Comment Letter is printed below and is followed by the Company&rsquo;s response. All page references in the responses set forth below
refer to the page numbers in the Registration Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Amendment
No. 2 to Registration Statement on Form F-4, submitted August 18, 2022</U></FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Material
U.S. Federal Income Tax Consequences of the Business Combination, page 94</U></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your response to prior comment 18. Please revise your disclosure in this section to
                                            name counsel having provided the tax opinion at Exhibit 8.1, and to state clearly that the
                                            disclosure in this section of the prospectus is the opinion of the named counsel. For guidance,
                                            refer to Section III.B.2 of Staff Legal Bulletin 19.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
The Company has revised the disclosure under the section &ldquo;Material U.S. Federal Income Tax Consequences of the Business Combination&rdquo;
on page 98 of the Registration Statement to name the tax counsel and to state that the disclosure is the opinion of the named counsel.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Caravelle's
Business, page 107</U></FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your responses to prior comments 19 and 20, including added disclosure indicating that
                                            Caravelle now expects to launch the CO-Tech business in Q4 2022. Please revise your risk
                                            factor summary and risk factor disclosures, at pages 23 and 36, respectively, to clearly
                                            disclose that Caravelle&rsquo;s overall business operations is not currently carbon-neutral,
                                            and substantiate how, in view of your current timetable, you consider the CO-Tech business
                                            to be &quot;newly launched&quot; or &quot;recently launched.&quot; As appropriate, please
                                            revise throughout your filing regarding the new CO-Tech business.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
The Company has revised throughout the Registration Statement to clarify that the CO-Tech business is yet to be launched, instead of
&ldquo;newly launched&rdquo; or &ldquo;recently launched&rdquo; or &ldquo;launching&rdquo;.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Shipping
+ Wood Drying + Carbon Trading = Carbon Neutral Ocean Technology Industry, page 121</U></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your response to prior comment 22, including added disclosure in this section that,
                                            as of the date of your proxy statement/prospectus, the CO-Tech business line has yet to launch.
                                            Please revise to additionally highlight, in this section, that your CO-Tech solutions model
                                            has no historical operations and has yet to generate revenues.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
The Company has revised the disclosure on page 126 of the Registration Statement in accordance with the Staff&rsquo;s comment.</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Enforceability
of Civil Liabilities Under U.S. Securities Law, page 183</U></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your response to prior comment 25 and reissue it in part. Given that your CFO and COO
                                            candidates reside in China, revise to discuss more specifically the limitations on investors
                                            being able to effect service of process and enforce civil liabilities in China, lack of reciprocity
                                            and treaties, and cost and time constraints.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
In accordance with the Staff&rsquo;s comment, the Company has expanded the risk factor titled &ldquo;You may face difficulties in protecting
your interests, and your ability to protect your rights through U.S. courts may be limited, because PubCo is an exempted company incorporated
under the laws of the Cayman Islands, PubCo conducts substantially all of its operations and a majority of its directors and executive
officers (or candidates) reside outside of the United States&rdquo; on page 49 of the Registration Statement, and the &ldquo;Enforceability
of Civil Liabilities Under U.S. Securities Law&rdquo; section on page 188 of the Registration Statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"><U>Signature
Page, page II-4</U></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revise
                                            the signature page of the registration statement to clarify that it is signed by the registrant's
                                            principal executive officer, its principal financial officer, its controller or principal
                                            accounting officer, and at least a majority of the board of directors or persons performing
                                            similar functions. See Instruction 1 to Signatures to Form F-4.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
In accordance with the Staff&rsquo;s comment, the Company has revised the signature page of the Registration Statement to include the
designations of principal executive officer, principal financial officer and principal accounting officer under the corresponding signatories.
All the members of board of directors signed the Registration Statement in such capacity.</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Exhibits</U></FONT></P>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
                                            file a signed and dated copy of Exhibit 10.8, the Form of Ship Chartering Agreement between
                                            Topsheen Shipping Limited and Topsheen Shipping Singapore Pte. Ltd. Please similarly file
                                            a signed copy of Exhibit 10.7, the Loan Agreement, dated April 9, 2020, between Topsheen
                                            Shipping Singapore PTE. LTD. and DBS Bank Ltd.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
The Company has filed a signed and dated copy of Exhibit 10.8, Ship Chartering Mandate Agreement between Topsheen Shipping Limited and
Topsheen Shipping Singapore Pte. Ltd. for each of the years ending December 31, 2022, 2021 and 2020 and a signed copy of Exhibit 10.7,
the Loan Agreement, dated April 9, 2020, between Topsheen Shipping Singapore PTE. LTD. and DBS Bank Ltd.</FONT></P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt/16.1pt Times New Roman, Times, Serif; margin: 0pt 1.45pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>General</U></FONT></P>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0"></TD><TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your responses to prior comments 14 and 26. Please reconcile these responses to your
                                            responses to comments 11 and 39 in your response letter dated July 18, 2022. In your July
                                            18, 2022 response letter, you stated that a majority of your officers and directors live
                                            in China and Hong Kong and that all of your revenues are generated in China and Hong Kong.</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
Regarding the residence of the majority of officers and directors, the discrepancy between the Company&rsquo;s July 18, 2022 response
letter and the Company&rsquo;s August 18, 2022 response letter is because during the interim one month period, the Company decided to
appoint new independent directors who reside in France and Switzerland. The Company decided to appoint these independent directors partly
in order to meet Nasdaq&rsquo;s director independence requirements.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Regarding
the statement in the Company&rsquo;s July 18, 2022 response letter that &ldquo;all&rdquo; revenues are generated in China and Hong Kong,
the Company made an error in the drafting. As already clarified in the Company&rsquo;s response to Comment 26 in the Company&rsquo;s
August 18, 2022 response letter, that expression was intended to describe only Caravelle&rsquo;s nascent CO-Tech business line, not Caravelle
as a whole. This mistake, though unintentional, is obvious given the Company&rsquo;s audited financial statements, including its list
of top customers which the Company has</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">already disclosed in the F-4.</FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR><TD STYLE="vertical-align: top; width: 50%; font-size: 10pt"><IMG SRC="image_002.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; width: 50%"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ms. Packebusch<BR> United States Securities and Exchange Commission</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your responses to prior comments 1, 3, 4, 5, 6, 8, 9, 10, 11, and 26. Given your added
                                            disclosure that 30% of Caravelle's cash transfer payments occur with banks inside China,
                                            Hong Kong, and/or Macau; that more than 30% of Caravelle's shipping revenues are derived
                                            from China; and that Caravelle has some assets in China, please provide additional analysis
                                            explaining how you determined that the legal and operational risks associated with operating
                                            in China and Hong Kong would not also apply to PubCo&rsquo;s (Caravelle International Group)
                                            operations in China and Hong Kong. We further note your plans to launch your CO-Tech business
                                            which will have operations in China and Hong Kong.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
According to the World Bank&rsquo;s public data, in the year 2020 (the most recent published year) mainland China alone accounted for
over 32% of the world&rsquo;s container shipping volume. Therefore, the Company&rsquo;s shipping business involvement with China is close
to the industry average. A global ocean shipping business such as the Company generates its revenue whenever and wherever the demand
for shipping requires, and it does so by its ships sailing most of the time across international waters, outside of any specific country&rsquo;s
jurisdiction. As of June 30, 2022, less than 1% of the Company&rsquo;s assets (including its ships) are located or registered within
China, Hong Kong, and/or Macau.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Moreover,
as already disclosed including in the Company&rsquo;s response to Comment 26 in the Company&rsquo;s August 18, 2022 response letter,
the Company is headquartered in Singapore, it receives subsidies from the Singaporean government, its entities are all legally organized
outside the jurisdiction of the Chinese government.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Given
all of the above, Caravelle believes that its business nexus to China is not materially different from the ocean shipping industry as
a whole. Such nexus, if any, has already been extensively disclosed in the Registration Statement.</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&rsquo;s CO-Tech business line is new and has no revenues to date&nbsp;. Thus, in terms of customers and revenue sources, what
the Company disclosed is its list of existing strategic framework agreements with potential customers. Given the early stage of the CO-Tech
business and the expectation of its fast growth (as is described in the registration statement), the Company expects the potential customer
base to greatly expand and thus shift in composition just like any other innovative and fast-growing business. In particular, as already
described in the registration statement, the Company initially expects significant growth in Europe based on its economy and policies.
If this growth fails to materialize, then CO-Tech will not become a material source of Caravelle&rsquo;s revenue, in which case the composition
of its customers would not materially impact Caravelle as a whole. The Company has updated the disclosures in the &ldquo;The CO-Tech
Solution&rdquo; and &ldquo;Customers&rdquo; sections to include a new strategic framework agreement with a customer based outside of
China.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"><TR><TD STYLE="vertical-align: top; width: 50%; font-size: 10pt"><IMG SRC="image_002.jpg" ALT=""></TD><TD STYLE="vertical-align: bottom; width: 50%"> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Ms. Packebusch<BR> United States Securities and Exchange Commission</P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">Page <!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
                                            note your response to prior comment 27 and reissue it in part. Please tell us whether anyone
                                            or any entity associated with or otherwise involved in the transaction, is, is controlled
                                            by, or has substantial ties with a non-U.S. person. If so, also include risk factor disclosure
                                            that addresses how this fact could impact your ability to complete your initial business
                                            combination. For instance, discuss the risk to investors that you may not be able to complete
                                            an initial business combination should the transaction be subject to review by a U.S. government
                                            entity, such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately
                                            prohibited. Further, disclose that the time necessary for government review of the transaction
                                            or a decision to prohibit the transaction could prevent you from completing an initial business
                                            combination and require you to liquidate. Disclose the consequences of liquidation to investors,
                                            such as the losses of the investment opportunity in a target company, any price appreciation
                                            in the combined company, and the warrants, which would expire worthless.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Response</U>:
The disclosure on page 55 of the Registration Statement has been revised to include the requested risk factor.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please
do not hesitate to contact Giovanni Caruso at (212) 407-4866 of Loeb &amp; Loeb LLP with any questions or comments regarding this letter.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sincerely,</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt; width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U STYLE="text-decoration: none">/s/
    Giovanni Caruso</U></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Giovanni
    Caruso</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">cc: Guohua Zhang</FONT></TD>
    <TD STYLE="padding: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1.5pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
