Wedoany.com Report-Nov. 11, Swan Defence and Heavy Industries (SDHI) has secured its first major shipbuilding contract since taking over the Pipavav shipyard, signing a letter of intent (LoI) with Norway’s Rederiet Stenersen for six 18,000 dwt chemical tankers valued at approximately $220 million. The agreement includes an option for six additional vessels of the same class.

The tankers, IMO Type II ships, will be constructed at SDHI’s Pipavav facility in Gujarat, India’s largest shipyard by dry dock capacity. The shipyard, which restarted operations last year under new ownership after emerging from bankruptcy, is positioned to deliver advanced vessels for both domestic and international markets.

The vessels will be designed by Norway’s Marinform and classed by DNV. Each Ice Class 1A tanker will feature a hybrid propulsion system with automated controls to enhance manoeuvrability, reduce emissions, and provide operational flexibility. The design also allows conversion to methanol or LNG fuel and the option to upgrade battery capacity to 5,000 kWh, supporting more sustainable shipping practices.

“This partnership marks a defining moment for SDHI and for Indian shipbuilding — our first major export of advanced chemical tankers to Norway,” said SDHI director Vivek Merchant. “The trust placed in us by Rederiet Stenersen reflects global confidence in India’s shipbuilding capabilities.”

Rederiet Stenersen, founded in 1974, operates a fleet of about 20 chemical and product tankers ranging from 13,000 to 19,000 dwt, primarily trading in Northern Europe. The company’s collaboration with SDHI highlights its focus on modern, environmentally friendly vessels and long-term fleet modernization.

The deal signals a strong revival for Pipavav under SDHI, demonstrating India’s growing capability in building high-specification vessels for export markets. Industry analysts noted that the hybrid propulsion and fuel-flexible design positions these tankers competitively in the global chemical tanker sector, where environmental standards and operational efficiency are increasingly critical.

The contract is expected to boost SDHI’s production pipeline, with construction schedules and deliveries likely to span the next several years, depending on final contract execution. The potential order for an additional six vessels further strengthens the strategic partnership between the Indian shipyard and the Norwegian operator.

This project also represents a milestone for India’s shipbuilding industry, reinforcing its ability to produce technologically advanced, environmentally conscious vessels for international clients. It underlines the growing confidence of global operators in Indian shipyards’ technical capabilities, project management, and quality standards.

With this first major export contract, SDHI aims to consolidate its position as a leading shipbuilder in India, leveraging Pipavav’s capacity and expertise to expand its presence in specialized tanker markets worldwide. The project is expected to generate significant revenue while showcasing the country’s potential in the high-end maritime sector.