GRSE signs contract for 5th of 8 Multi-purpose Export Vessels

In a significant milestone underscoring its commitment to handle export orders, Garden Reach Shipbuilders & Engineers Ltd (GRSE) signed an agreement with M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG Germany on Thursday, October 03, 2024, for the construction and delivery of 5th Multi-purpose vessel (MPV) of 7,500 DWT. This contract isin line with the 'Option Agreement' signed between both the parties, for procurement of four additional MPVs from GRSE. The shipyard will build a total of eight vessels (08) at an approx. order value of 108 M USD.

Each MPV will be 120 metres long and 17 metres wide with a maximum draft of 6.75 metres. It can carry 7,500 metric tonnes of cargo. Each vessel will have a single cargo hold to accommodate bulk, general and project cargoes and Containers will be carried on hatch covers. These ships have been specifically designed to carry multiple large windmill blades on deck.

The agreement for 5th MPV was signed between GRSE and M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co., represented by Cdr Shantanu Bose, IN (Retd), Director (Shipbuilding) and Mr Jonas Meinhardt, Managing Director of M/s Carsten Rehder respectively in the august presence Shri RK Dash, Director (Finance), GRSE, DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE, and senior officials from both GRSE & Carsten Rehder.

Shares of Garden Reach Shipbuilders & Engineers Limited was last trading in BSE at Rs. 1658.80 as compared to the previous close of Rs. 1657.90. The total number of shares traded during the day was 71192 in over 6606 trades.

The stock hit an intraday high of Rs. 1695.75 and intraday low of 1600.00. The net turnover during the day was Rs. 117877843.00.

Source : Equity Bulls

Keywords

GardenReachShipbuildersandEngineers INE382Z01011 GRSE Agreement Germany MultiPurposeVessel 7500DWT