Garden Reach Shipbuilders: On June 22, Defense PSU Garden Reach Shipbuilders & Engineers Limited (GRSE) and German companies Carsten Rehder Schiffsmakler and Reederei GmbH & Co. KG signed a contract for the building and delivery of four multipurpose vessels, each with a displacement of 7,500 DWT, with the option to build an additional four ships shortly after.
Garden Reach Shipbuilders is responsible for designing, building, and delivering the vessels as part of the $54 million deal, with a completion timeline of 33 months.
According to Money control, the vessels will have a maximum draft of 6.75 meters and dimensions of 120 meters by 17 meters. They are each capable of transporting 7,500 metric tons of cargo. Each of the ships will have a single cargo hold that can store project, general, and bulk cargo. Hatch coverings will be used to transport containers. Due to their unique design, many ships are capable of carrying large windmill blades on deck.
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According to an exchange filing filed by GRSE, “the agreement was signed between GRSE and M/s Carsten Rehder Schiffsmakler and Reederei GmbH & Co., represented by Cdr Shantanu Bose, Director (Shipbuilding) and Carsten Thomas Rehder, Managing Director, respectively, in the presence of Cmde PR Hari, IN (Retd), Chairman & Managing Director, GRSE.”
“Among senior officials, RK Dash, Director (Finance), GRSE, DIG Subrato Ghosh, ICG (Retd), Director (Personnel), GRSE, and Jonas Meinhardt, Managing Director of M/s Carsten Rehder, were present,” said the statement.
The share price of Garden Reach Shipbuilders & Engineers Ltd. closed at Rs 1,649.00 on Friday, a decrease of Rs 112.20 (6.37%).
Even though its revenue decreased for the quarter that ended in March 2020, GRSE recorded a 48% increase in net profit to Rs 49.69 crore. The shipbuilder had declared a net profit for the equivalent period of 2018–19 of Rs 33.62 crore. A statement added that total income dropped from Rs 539.17 crore in the same time last year to Rs 509.48 crore in the quarter under review, or a 5.51% decline.
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The business produced the offshore patrol boat CGS Barracuda in 2014, which was shipped to Mauritius. India’s first warship export was this one. The fast patrol boat PS Zoroaster, was built by GRSE and exported to the Seychelles, in 2021. Earlier this year, the ship came back to GRSE for a renovation that was finished in record time.
In addition, the shipyard is currently constructing a TSH dredger and six patrol boats for the Bangladeshi government. The Cooperative Republic of Guyana received the MV Ma Lisha, an oceangoing ferry capable of carrying both passengers and cargo, from GRSE in 2023. Right now, it’s the biggest and most sophisticated boat in that nation.
