SWANDEF signs LoI with Rederiet Stenersen AS for six chemical tankers
Swan Defence and Heavy Industries Ltd. (SWANDEF) signs Letter of Intent with Rederiet Stenersen AS for construction of six 18,000 DWT Chemical Tankers valued at USD 220 million (₹1,833.73 crore).
The deal represents a substantial contract value (USD 220 million or ₹1,833.73 crore) and signifies a major milestone for the company and Indian shipbuilding, with potential for future orders.
The announcement highlights a significant new order for the company, marking a major export deal and demonstrating confidence in India's shipbuilding capabilities.
* Swan Defence and Heavy Industries Limited (SDHI) has signed a Letter of Intent (LoI) with European ship owner Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, each with a capacity of 18,000 DWT. * The contract is valued at approximately USD 220 million (₹1,833.73 crore), with an option for an additional six ships. * The vessels will be built at SDHI’s facility in Pipavav, Gujarat, and designed by Marinform AS (Norway), with classification by DNV. * The ships will be built to Ice Class 1A standards and feature a hybrid propulsion system, with design allowing conversion to methanol or LNG fuel and upgrades to battery capacity. * Vivek Merchant, Director of SDHI, stated that this marks India’s first major export of advanced chemical tankers to Norway and reflects global confidence in India’s shipbuilding capabilities.
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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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See the model portfoliosA plain-language summary of a public exchange filing by Swan Defence and Heavy Industries Limited. Read the original for the full detail.