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Garden Reach shares surge 4% on MoI with German co for four multi-purpose vesselsGRSE said that it has entered into memorandums of intent and understanding with multiple global partners, marking a strategic move to expand its pipeline beyond defence platforms.By CNBCTV18.com June 5, 2025, 10:17:37 AM IST (Published)2 Min ReadShares of Garden Reach Shipbuilders and Engineers Ltd. (GRSE) rose as much as 4% on Thursday, June 5, after the company announced the signing of a memorandum of understanding (MoU) with Germany-based Carsten Rehder.

According to an exchange filing, the MoU pertains to the construction of four multi-purpose vessels, with the final contract expected by August 31.

GRSE said that it has entered into memorandums of intent and understanding with multiple global partners, marking a strategic move to expand its pipeline beyond defence platforms.

As per the filing, GRSE signed a memorandum of intent with Carsten Rehder Schiffsmakler und Reederei for four follow-on 7,500 DWT (deadweight tonnage) multi-purpose vessels. These ships will add to the eight vessels currently under construction at GRSE’s Kolkata yard. The company said the new vessels will feature hybrid propulsion systems and will comply with the latest cybersecurity standards.

In a parallel development, GRSE also signed an MoU with M/s Aries Marine, a Dubai-based, independent engineering and design firm specialising in offshore platforms and vessels. This partnership aims to help GRSE expand its global footprint in the offshore market by collaborating on platform designs from Aries and building them at GRSE facilities.

Additionally, GRSE entered into an MoU with a global engine manufacturer on the same day, further strengthening its international collaborations.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsGarden Reach Shipbuilders