Swan Defence Secures ₹1,891 Crore Order for Six Chemical Tankers
Swan Defence and Heavy Industries Limited (SDHI) secured a USD 227 million (₹1,891 crore) contract for six 18,000 DWT chemical tankers from Rederiet Stenersen AS. The agreement includes an option for six additional vessels. The first vessel is scheduled for delivery within 33 months. This marks India's first chemical tanker order and a major milestone for SDHI's revitalized shipyard.
The contract represents a substantial financial value and strategic achievement for the company, potentially boosting its market position and future prospects.
The announcement highlights a significant contract win for Swan Defence, indicating positive business development and growth.
Swan Defence and Heavy Industries Limited (SDHI) has secured a contract valued at USD 227 million (₹1,891 crore) for the construction of six 18,000 DWT IMO Type II chemical tankers. This marks a significant milestone as India’s first chemical tanker order and one of the largest commercial shipbuilding deals for the nation. The vessels will be built at SDHI’s revitalized shipyard in Pipavav, Gujarat. This agreement includes an option for an additional six vessels. The first vessel is scheduled for delivery within 33 months, with subsequent deliveries planned at regular intervals. Each tanker will have an overall length of approximately 150 metres and a beam of approximately 23 metres.
The vessels will be designed by Marinform AS and StoGda Ship Design & Engineering and classed by DNV. They will be built to Ice Class 1A standards and feature advanced dual-fuel LNG-ready hybrid propulsion, enabling multiple operational modes supported by high levels of automation.
Vivek Merchant, Director of Swan Defence and Heavy Industries Limited, commented that this order marks a historic milestone in the shipyard’s new journey toward becoming a state-of-the-art shipbuilding hub and underscores global confidence in their ability to deliver future-ready, high-quality vessels. John Stenersen, Director – Ship Management, Rederiet Stenersen AS, noted that this is their first newbuilding contract placed with an Indian shipyard, reflecting strong confidence in SDHI’s infrastructure, engineering capabilities, and readiness to deliver specialized vessels that meet Stenersen’s global standards while remaining cost-competitive.
The contract follows the signing of a Letter of Intent (LoI) between SDHI and Rederiet Stenersen AS in November 2025.
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Swan Defence and Heavy Industries Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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