SDHI to Build Six Tankers for Norway’s Stenersen

12 Nov 2025 CW Team

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.

Real Estate

02 Jun 2026

Dash Square Adds Ashley Study Furniture

Dash Square has expanded its furniture portfolio with a curated study furniture collection from Ashley Furniture Homestore. The range is designed for contemporary homes where work, study and creative activities increasingly require dedicated and well-planned spaces.The collection includes writing desks, executive workstations, storage-led study units and display shelving. It combines practicality, comfort and design to create workspaces that are functional as well as visually appealing.One setting features a light-toned desk with coordinated bookcases and storage cabinets, creating a bright an..

Suraj Estate Arm Acquires Mahim Land Rights

Suraj Estate Developers, through its wholly owned subsidiary Iconic Property Developers, has signed an MoU to acquire development rights for a land parcel in Mahim (West), Mumbai, for Rs 75 crore. The plot measures around 2,941 sq m and is located next to the company’s ongoing commercial project, Suraj One Business Bay.After amalgamation with the existing commercial development, the land is expected to generate additional saleable carpet area of around 1.50 lakh sq ft, with an estimated gross development value of Rs 800 crore. The project is expected to strengthen the company’s near-to-med..

AGNI Launches Industry Benchmarking Drive

The Association of Global NICMARians (AGNI), the alumni body of NICMAR, hosted ASPIRE 2026 in Mumbai under the theme ‘Innovation to Transformation’. The symposium brought together professionals from construction, infrastructure, real estate and project management to discuss technology, AI, sustainability and data-led decision-making.At the event, AGNI announced its vision to emerge as an industry think tank and launched initiatives including an Industry Benchmarking Programme. It also proposed a digital ecosystem with tools for innovation impact assessment, salary benchmarking, company ben..