Garden Reach Shipbuilders & Engineers Limited — Updates, 24-03-2025: Press Release

Garden Reach Shipbuilders & Engineers Ltd. has signed a contract for the construction and delivery of the 7th and 8th Multi-Purpose Vessels (MPVs), each with a capacity of 7,500 DWT. This contract, valued at approximately 108 million USD, aligns with the previous option agreement to procure four additional MPVs. The vessels, measuring 120 meters in length and designed for diverse cargo, particularly large windmill blades, will be built in Hamburg, Germany. The signing took place with representatives from GRSE and Carsten Rehder Schiffsmakler and Reederei GmbH, showcasing GRSE's commitment to expanding its global footprint. This addition bolsters GRSE's portfolio and reflects its ongoing strategy to capitalize on international shipbuilding opportunities. Investors should consider the positive outlook associated with this contract as it underlines GRSE’s strengthening position in the global market for shipbuilding.