In an ovenproof Dutch oven over medium heat, brown roast in coconut oil on all sides; drain.
In a small bowl, combine the hot water and bouillon; add the ketchup, onion, Worcestershire sauce, caraway, salt and pepper. Pour over roast. Add bay leaves.
Cover and bake at 325° for 3 hours or until tender. Remove roast to serving platter; keep warm.
In a small bowl, combine flour and cold water until smooth. Stir into pan juices; bring to a boil. Cook and stir for 1-2 minutes or until thickened, adding water to thin if necessary. Discard bay leaves. Serve with cooked potatoes and carrots if desired.