Swan Defence and Heavy Industries Limited (SDHI) has achieved a major milestone in India’s commercial shipbuilding sector with the signing of its first newbuild contract for six IMO Type II chemical tankers, each with a capacity of 18,000 DWT, to be constructed at its revitalised shipyard in Pipavav, Gujarat. Valued at approximately $227 million, the contract awarded by leading 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 reaffirms SDHI’s capability to deliver complex, world-class commercial vessels and strengthens India’s position in the global shipbuilding market. The contract also includes an option for an additional six sister vessels. The first tanker is scheduled for delivery within 33 months, with subsequent vessels to be delivered at regular intervals. Each vessel will measure around 150 metres in length with a beam of approximately 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, they will feature advanced dual-fuel LNG-ready hybrid propulsion systems, enabling multiple operational modes supported by high levels of automation and enhanced efficiency. Commenting on the development, Vivek Merchant, Director of Swan Defence and Heavy Industries Limited, said the contract marks a historic milestone in the shipyard’s transformation into a state-of-the-art shipbuilding hub. He noted that the order reflects global confidence in SDHI’s ability to deliver future-ready, high-quality vessels and highlights the growing strength of India’s commercial shipbuilding ecosystem, supported by progressive maritime policies such as the Shipbuilding Financial Assistance scheme. This contract represents the first newbuild order at India’s largest shipyard following its revitalisation under the management of Swan Corp Limited, the parent company of SDHI. John Stenersen, Director – Ship Management at Rederiet Stenersen AS, said the decision to place the company’s first newbuilding contract with an Indian shipyard followed a comprehensive technical and commercial evaluation and reflects strong confidence in SDHI’s infrastructure, engineering capabilities and cost competitiveness. The agreement follows the signing of a Letter of Intent between SDHI and Rederiet Stenersen AS in November 2025, marking the beginning of a long-term partnership and a significant step forward for India’s commercial shipbuilding ambitions.