Garden Reach wins $62.44m order for hybrid vessels, appoints new auditors

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) announced a contract with Germany's Carsten Rehder Schiffsmakler und Reederei GmbH & Co. KG for the construction of four Hybrid Multi-Purpose Vessels (MPVs) valued at $62.44 million. This order follows an initial Memorandum of Intent from June 2025 and extends an ongoing 7,500 DWT MPV project. The new vessels will feature battery-assisted hybrid propulsion, enhanced fuel efficiency, and flexible cargo handling, with delivery expected within 33 to 42 months.

This contract reinforces GRSE's "Make in India, Make for World" vision, underscoring its expanding global footprint in commercial and green shipbuilding. This latest agreement brings the total number of vessels under this MPV program to eight, with steel cutting for the CORAL 7500 DWT MPV series having commenced in April 2025.

In a separate announcement, GRSE informed the appointment of M/s. Guha Nandi & Co, Chartered Accountants, Kolkata, as its statutory auditor for the financial year 2025-26. This appointment by the Comptroller & Auditor General of India takes effect from September 19, 2025, the date of the company’s annual general meeting.