Diversification of an Indian Shipyard: GRSE Expands into Commercial ShipbuildingDiversification of an Indian Shipyard: GRSE Expands into Commercial Shipbuilding Garden Reach Shipbuilders and Engineers (GRSE) has ventured into commercial shipbuilding, announcing a $45 million agreement with Carsten Rehder Schiffsmakler, a German shipping company. The Indian shipyard will construct four 120-meter, 7,500 dwt multi-purpose vessels, with the option to build an additional four vessels. GRSE, supervised by the Ministry of Defense, has primarily focused on defense shipbuilding and occasional offshore vessels in the past. This diversification marks a significant shift for the yard. The expansion of Indian shipyards into commercial shipbuilding aligns with Prime Minister Narendra Modi’s plans to elevate India to the top five shipbuilding and repair nations within a decade. Currently, India holds a market share of less than 1% in global shipbuilding, placing it outside the top 10 countries. The agreement with Carsten Rehder Schiffsmakler demonstrates the growing capabilities of Indian shipyards and their commitment to meeting the demands of the commercial shipping industry. This diversification bodes well for India’s aspirations to become a major player in the global shipbuilding market.
An Indian shipyard is diversifying its offering. Garden Reach Shipbuilders and Engineers (GRSE) has signed a $45 million agreement with Germany’s Carsten Rehder Schiffsmakler for the construction of four 120-metre, 7,500 dwt multi-purpose vessels with an option to build a further four vessels.
The yard, which is under the administrative supervision of the Ministry of Defense, is best known for defense shipbuilding and some offshore vessels.
Many Indian shipyards are upping their game when it comes to commercial shipbuilding.
Indian Prime Minister Narendra Modi has drawn up plans to make the country one of the top five shipbuilding and repair countries within ten years.
India currently falls outside the top 10 shipbuilding countries worldwide, with a market share of less than 1%.
