Swan Defence and Heavy Industries Secures Major Chemical Tanker Contract Worth $227 Million

Swan Defence and Heavy Industries Ltd has signed a $227 million contract to build 6 18,000 deadweight tonnage (DWT) IMO Type II chemical tankers for Norwegian shipowner Rederiet Stenersen AS. The contract also includes an option for 6 additional sister vessels.  

The company said the order is among the largest single commercial shipbuilding contracts placed with an Indian yard and the first chemical tanker newbuild order awarded domestically.  

Construction and Timelines 

The vessels will be built at the Pipavav shipyard in Gujarat, which has recently resumed commercial shipbuilding under new ownership. Each ship will be about 150 metres long with a beam of roughly 23 metres. The first tanker is scheduled for delivery within 33 months, with subsequent deliveries planned at regular intervals.  

The contract follows a letter of intent signed in November 2025.  

Design and Technical Features 

The tankers will be designed by Marinform AS and StoGda Ship Design & Engineering and classed by DNV. The vessels will be built to Ice Class 1A standards.  

They will be fitted with dual-fuel LNG-ready hybrid propulsion systems and automation systems that allow multiple operating modes.  

Context for Shipbuilding Sector 

The order is the first newbuild contract at the Pipavav facility since its revival and comes amid policy support for domestic shipbuilding, including financial assistance schemes. 

Rederiet Stenersen said the order followed technical and commercial assessments and represents its first newbuilding contract with an Indian shipyard.  

Read More: Belrise Industries Shares Gain as Company Expands into Aerospace Through French Asset Acquisition! 

Conclusion 

The contract adds to India’s commercial shipbuilding pipeline and provides visibility on workload at the Pipavav yard over the next few years. If the optional additional vessels are confirmed, the total order size would increase, extending the construction schedule and revenue visibility for the shipbuilder. 

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