Swan Defence and Heavy Industries (SDHI), India’s largest shipbuilding and heavy fabrication company, has signed a Letter of Intent (LoI) with Norwegian ship owner Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, each with a capacity of 18,000 DWT.Valued at approximately $220 million, the LoI represents a landmark achievement for India’s shipbuilding exports, with an option to build an additional six vessels under the same class. The ships will be built at SDHI’s state-of-the-art shipyard in Pipavav, Gujarat, designed by Marinform AS, Norway, and classed by DNV.Each vessel will be constructed to Ice Class 1A standards and equipped with an advanced hybrid propulsion system, enabling superior manoeuvrability, reduced emissions, and enhanced operational efficiency. The future-ready design allows for conversion to methanol or LNG fuel, with the flexibility to upgrade battery capacity up to 5,000 kWh, ensuring adaptability for evolving green technologies and alternative fuels.Commenting on the development, Vivek Merchant, Director, SDHI, said, “This partnership marks a defining moment for SDHI and Indian shipbuilding—our first major export of advanced chemical tankers to Norway. The confidence placed in us by Rederiet Stenersen AS underscores India’s growing capabilities in constructing world-class, sustainable vessels.”The LoI signing ceremony was attended by Vivek Merchant, Rear Admiral Vipin Kumar Saxena (Retd.), CEO of SDHI, and Sigve Stenersen and John Stenersen representing Rederiet Stenersen AS. Detailed commercial terms and delivery timelines will be finalized in the subsequent shipbuilding contract.Established in 1974, Rederiet Stenersen AS operates a fleet of 19 chemical/product tankers ranging from 16,000 to 19,000 DWT, primarily serving Northern European routes. The company is recognized for its strong commitment to vessel quality, safety, and environmental compliance.