Garden Reach Shares Jump 4% on MoI with German Firm for Four Multi-Purpose Vessels

Reach Shipbuilders & Engineers (GRSE) shares surged 4% on June 5, 2025, following the announcement of a Memorandum of Intent (MoI) with Germany-based Carsten Rehder Schiffsmakler und Reederei for the construction of four 7,500 DWT multi-purpose vessels. The agreement, part of GRSE’s strategic push to expand beyond defence platforms, also includes partnerships with other global entities, signaling robust growth in its commercial shipbuilding portfolio. The MoI, detailed in an exchange filing, builds on GRSE’s existing order for eight similar vessels at its Kolkata yard, with a final contract expected by August 31. These follow-on ships will feature hybrid propulsion systems and adhere to enhanced cybersecurity standards, positioning GRSE as a leader in innovative maritime solutions. The company also signed an MoU with Dubai-based Aries Marine for offshore platform and vessel design, further diversifying its order pipeline. This development follows a strong rally in GRSE’s stock, which has gained 194% since March 2025, driven by a robust order book and optimism in the defence and shipbuilding sectors. The market’s positive response reflects confidence in GRSE’s expanding global footprint and its role