Swan Defence Secures Landmark Chemical Tanker Order

29 Jan 2026 CW Team

Swan Defence and Heavy Industries (SDHI), owner of the Pipavav Shipyard in Gujarat, has signed a newbuild contract for six chemical tankers, marking the first such deal secured by an Indian shipbuilder.

Valued at USD 227 million, the contract from European shipowner Rederiet Stenersen AS ranks among India’s largest single commercial shipbuilding orders and represents the first and largest chemical tanker order awarded to an Indian shipyard. The agreement also includes an option for an additional six sister vessels, further strengthening the scale of the partnership.

SDHI said progressive maritime policies, including the Shipbuilding Financial Assistance scheme, have enabled Indian private shipyards to compete effectively with leading global players. According to Vivek Merchant, Director at SDHI, supportive policy measures have been instrumental in enhancing the competitiveness of domestic shipbuilding.

The first vessel is scheduled for delivery within 33 months, with subsequent ships to be delivered at regular intervals. Each tanker will measure approximately 150 metres in length and around 23 metres in beam.

The vessels will be designed by Marinform AS and StoGda Ship Design & Engineering and classed by DNV. Built to Ice Class 1A standards, the tankers will feature dual-fuel, LNG-ready hybrid propulsion systems, offering multiple operational modes supported by advanced automation.

The contract underscores India’s growing capabilities in high-value commercial shipbuilding and strengthens its position in the global maritime industry.

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