Deals10 Nov 2025, 07:22 pm
Swan Defence And Heavy Industries Ltd. Signs $220M LoI with European Ship Owner Rederiet Stenersen AS for Construction of Six 18,000 DWT Chemical Tankers
AI Summary
Swan Defence And Heavy Industries Ltd. (SDHI) has signed a Letter of Intent (LoI) with European ship owner and operator Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, each of 18,000 DWT capacity. The LoI, valued at approximately USD 220 million, marks a significant step for India’s shipbuilding export and is a testament to SDHI’s commitment to deliver world-class, future-ready vessels. The hybrid, Ice Class 1A ships will be designed for methanol/LNG conversion and battery upgrades, and are expected to significantly improve green performance and adaptability for alternate fuels and technologies.
Key Highlights
- SDHI signs Letter of Intent with European ship owner Rederiet Stenersen AS for construction of six 18,000 DWT chemical tankers worth approximately USD 220 million.
- Vessels to be designed by Marinform AS (Norway) and classed by DNV, and built at SDHI’s state-of-the-art facility in Pipavav, Gujarat.
- Each ship will be built to Ice Class 1A standards and feature an advanced hybrid propulsion system.
- Design allows conversion to methanol or LNG fuel and includes the provision to upgrade battery capacity up to 5,000-kWh.
- This partnership marks a defining moment for SDHI and for Indian shipbuilding, reflecting global confidence in India’s shipbuilding capabilities.