In a significant boost to India’s commercial shipbuilding ambitions, Swan Defence and Heavy Industries Limited (SDHI) has announced the signing of its first newbuild contract for six IMO Type II chemical tankers, each of 18,000 DWT, to be constructed at its revitalised shipyard in Pipavav, Gujarat.
Valued at USD 227 million, the contract awarded by leading European shipowner Rederiet Stenersen AS is among the largest single commercial shipbuilding orders placed in India. It is also the first and largest chemical tanker order ever awarded to an Indian shipyard, underscoring SDHI’s growing capability to deliver complex, high-specification commercial vessels to global standards.
The agreement includes an option for an additional six sister vessels. Delivery of the first tanker is scheduled within 33 months, with subsequent vessels to follow at regular intervals. Each vessel will measure approximately 150 metres in length with a beam of about 23 metres.
The tankers will be designed by Marinform AS and StoGda Ship Design & Engineering, and classed by DNV. Built to Ice Class 1A standards, the vessels will feature advanced dual-fuel LNG-ready hybrid propulsion systems, allowing multiple operational modes and supported by high levels of automation, aligning with future-ready and environmentally responsible shipping requirements.
Commenting on the development, Vivek Merchant, Director, Swan Defence and Heavy Industries Limited, said the contract represents a defining moment for the shipyard and for India’s maritime manufacturing ecosystem.
“This marks a historic milestone in the shipyard’s new journey toward becoming a state-of-the-art shipbuilding hub. The order from Rederiet Stenersen AS underscores global confidence in our ability to deliver future-ready, high-quality vessels. This achievement is not only significant for SDHI but also a strong endorsement of India’s growing commercial shipbuilding ecosystem. Progressive maritime policies, including the Shipbuilding Financial Assistance scheme, have enabled Indian private shipyards to compete successfully with leading global peers,” he said, thanking the Norwegian shipowner for its trust and partnership.
This is the first newbuild contract at India’s largest shipyard following its revitalisation under the new management of Swan Corp Limited, the parent company of SDHI, marking a crucial step in the yard’s re-emergence as a global shipbuilding destination.
John Stenersen, Director – Ship Management, Rederiet Stenersen AS, said the decision followed an extensive technical and commercial evaluation.
“This is our first newbuilding contract placed with an Indian shipyard. Our decision reflects strong confidence in SDHI’s infrastructure, engineering capabilities, and readiness to deliver specialised vessels that meet Stenersen’s global standards while remaining cost competitive,” he noted.
The contract follows the signing of a Letter of Intent (LoI) between SDHI and Rederiet Stenersen AS in November 2025, and signals growing international confidence in India’s private shipbuilding sector as it positions itself in the global maritime value chain.
