Garden Reach Shipbuilders & Engineers Ltd (GRSE), a leading Indian shipbuilder, has signed a contract valued at $62.44 million with Germany’s Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG. The agreement, finalized in Hamburg, Germany, entails the construction of four hybrid multi-purpose vessels (MPVs), with an option to build two additional vessels.
The hybrid MPVs are designed to be 120 meters in length and 17 meters in width, with a cargo capacity of 7,500 tonnes per vessel. These vessels will feature battery-assisted hybrid propulsion systems, enhancing fuel efficiency and reducing emissions in line with the International Maritime Organization’s decarbonization targets.
This contract marks a significant milestone in GRSE’s expansion into the international commercial shipbuilding market. It underscores India’s growing presence in the global maritime industry and supports the government’s “Make in India, Make for World” initiative, highlighting the country’s ability to deliver technologically advanced and sustainable shipping solutions.
The partnership between GRSE and Carsten Rehder builds on a previous successful collaboration on a 7,500 DWT MPV project currently under execution in Kolkata. Industry observers note that the ongoing relationship demonstrates mutual confidence and GRSE’s capability to meet international standards for commercial vessels.
Following the announcement, shares of GRSE experienced a notable uptick, reflecting investor optimism about the company’s expanding order book and strategic direction. Analysts have highlighted that international contracts such as this not only enhance revenue visibility but also strengthen GRSE’s position as a competitive player in the global shipbuilding sector.
GRSE’s move into hybrid propulsion technology is in line with global trends emphasizing sustainability and energy efficiency in maritime transport. With increasing pressure on shipbuilders worldwide to reduce greenhouse gas emissions, the incorporation of hybrid systems positions the company favorably in future tenders and contracts.
The company’s order book now includes both domestic naval projects and international commercial contracts, signaling a diversification strategy that balances traditional government work with global commercial opportunities. Senior GRSE officials have stated that the company is actively exploring additional partnerships with overseas firms to further expand its portfolio of environmentally sustainable vessels.
Industry experts believe that such international engagements will contribute to technological know-how, workforce skill development, and long-term revenue growth for GRSE. By delivering on these hybrid vessel contracts, the company aims to establish a benchmark for Indian shipbuilders in advanced, eco-friendly maritime engineering.
The deal also reflects a broader trend of Indian shipyards increasingly securing contracts from European and global shipping companies, which are seeking reliable partners to meet stricter environmental and operational standards. GRSE’s ability to deliver high-quality hybrid vessels on schedule is expected to enhance its reputation and open doors to further collaborations in the international shipping market.
With the construction of the four hybrid MPVs set to begin soon, GRSE is poised to strengthen its foothold in both domestic and global shipbuilding, combining cutting-edge technology with sustainable practices to meet the evolving demands of the maritime industry.