GRSE Inks USD 62.44 Million Deal for Four Hybrid Multi-Purpose Vessels with German Firm
Garden Reach Shipbuilders & Engineers Ltd (GRSE) has signed a contract with German company Carsten Rehder for the construction of four Hybrid Multi-Purpose Vessels (MPVs), valued at USD 62.44 million. The contract includes an option for two additional vessels. The 120-meter long ships will have a cargo capacity of 7,500 metric tonnes and feature battery-assisted hybrid propulsion systems for enhanced fuel efficiency. The project is set to be completed within 33 to 42 months from the contract's effective date. This deal expands GRSE's international commercial vessel portfolio and reinforces its commitment to sustainable shipbuilding.

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Garden Reach Shipbuilders & Engineers Ltd (GRSE) has taken a significant step forward in its global shipbuilding endeavors by signing a contract with Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG, a German company, for the construction of four Hybrid Multi-Purpose Vessels (MPVs). The deal, valued at USD 62.44 million, was inked on September 19, 2025, in Hamburg, Germany.
Contract Details
The contract encompasses the construction of four Hybrid MPVs, with a provision for an additional two vessels. These state-of-the-art ships will feature:
- Length: 120 meters
- Width: 17 meters
- Maximum draft: 6.75 meters
- Cargo capacity: 7,500 metric tonnes in a single large cargo hold
- Flexible cargo handling capabilities for bulk, general, and project cargoes
- Ability to carry containers on hatch covers
- Unique design to transport multiple large windmill blades on deck
Advanced Technology and Sustainability
The newly contracted Hybrid MPVs will incorporate:
- Battery-assisted hybrid propulsion systems
- Enhanced fuel efficiency
- Alignment with International Maritime Organization (IMO) decarbonization goals
These features underscore GRSE's commitment to green shipbuilding and sustainable maritime solutions.
Project Timeline and Scope
The project is scheduled for completion within 33 to 42 months from the contract's effective date. This agreement builds upon GRSE's existing partnership with Carsten Rehder, following their ongoing 7,500 DWT Multi-Purpose Vessel project currently under execution in Kolkata.
Strategic Importance
Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding) at GRSE, and Mr. Thomas Rehder, Managing Director of Carsten Rehder, signed the contract in the presence of senior officials from both organizations. This deal reinforces GRSE's commitment to the 'Make in India, Make for World' vision and expands the company's global footprint in commercial and green shipbuilding.
GRSE's Growing International Presence
The MPV program with Carsten Rehder has seen steady growth:
- Initial contract for four vessels signed in June 2024
- Subsequent agreements in September 2024, December 2024, and March 2025, bringing the total to eight vessels
- Steel cutting for the CORAL 7500 DWT MPV series commenced on April 17, 2025
This latest contract further cements GRSE's position in the international commercial vessel segment and showcases its capabilities in constructing advanced, environmentally-friendly ships for the global market.
As GRSE continues to expand its international portfolio, this contract marks another milestone in the company's journey towards becoming a global leader in shipbuilding, particularly in the realm of sustainable maritime solutions.
Historical Stock Returns for Garden Reach Shipbuilders
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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-0.80% | +0.91% | +0.11% | +58.73% | +53.17% | +1,392.58% |