Garden Reach Shipbuilders & Engineers Ltd (GRSE), a prominent warship manufacturer, announced on September 18 that it has secured an additional order worth $54 million from Germany-based Carsten Rehder Schiffsmakler and Reederei GmbH & Co. This deal involves the construction and delivery of four more multi-purpose cargo vessels under the existing terms and conditions.
In a filing to the stock exchange, GRSE stated, “On 18 Sep 2024, we received confirmation from the customer for the purchase and delivery of an additional four multi-purpose vessels on the current terms.” This new order follows an initial agreement signed in June 2024 between GRSE and Carsten Rehder for the construction and delivery of four multi-purpose vessels.
The entire project, now expanded to eight vessels, will be designed, constructed, and delivered within a 33-month timeframe from the original contract date. The contract specifies no involvement of related party transactions. The vessels are estimated to cost around $54 million for this additional batch, bringing the total contract value to approximately $108 million.
GRSE’s agreement with Carsten Rehder also includes an option to build more ships in the future, reflecting a potential long-term partnership. Each of these vessels will measure 120 meters in length and 17 meters in width, with a carrying capacity of 7,500 tonnes of cargo.
Designed with a single cargo hold, the ships are versatile, suitable for transporting bulk, general, and project cargo, as well as containers on their hatch covers. Additionally, they have been specifically engineered to carry large windmill blades on deck, highlighting their multi-purpose nature. This order solidifies GRSE’s growing presence in the global shipbuilding market, showcasing their expertise in constructing specialized, multi-functional maritime vessels.
