GRSE Inks $62.44 Million Deal with Germany’s Carsten Rehder to Build 4 Hybrid Vessels; Share Price Surges 4%

Garden Reach Shipbuilders & Engineers (GRSE) Ltd has signed a contract worth $62.44 million with Hamburg-based Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG. As per the news reports, the agreement is for 4 hybrid multi-purpose vessels, with an option to add 2 more.

Link to Existing Programme

The new order is part of the 7,500 DWT multi-purpose vessel project at GRSE’s Kolkata yard. This programme began in June 2024 with four vessels. More orders were placed in September 2024, December 2024, and March 2025, bringing the total number of ships ordered to eight.

Signing Details

The contract was signed by Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding), GRSE, and Thomas Rehder, Managing Director of Carsten Rehder. Senior officials from both sides attended the signing.

Vessel Size and Design

Each ship will be 120 metres long and 17 metres wide. They will be fitted with battery-assisted hybrid propulsion systems. The design focuses on efficient fuel use and adaptable cargo handling.

The vessels can carry up to 7,500 tonnes of cargo in a single hold. They are suitable for bulk, general, and project cargo. Containers can be carried on hatch covers. A special feature will allow the ships to carry large windmill blades on deck, supporting renewable energy transport.

On April 17, 2025, GRSE began steel cutting for the CORAL 7500 DWT MPV series. This marked its first large international export order in the commercial vessel segment.

Read more: Apple Expands Office Lease in Mumbai’s Bandra Kurla Complex!

Garden Reach Shipbuilders & Engineers Share Performance

As of September 22, 2025, 10:30 AM, Garden Reach Shipbuilders & Engineers (GRSE) share price was trading at ₹2,732.10, a 4.87% increase from the previous closing price.

Conclusion

The $62.44 million contract adds to GRSE’s work with Carsten Rehder. It extends the vessel programme and includes ships designed for varied cargo needs.

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