Newsletter
Swan Defence and Heavy Industries (SDHI) hit 5% upper circuit after it bagged a major shipbuilding order worth $220 million.
The company signed a Letter of Intent (LoI) with Norway’s Rederiet Stenersen AS to build six large ships that carry liquid chemicals safely across oceans, with an option to make six more if needed.
Note: this is company’s first shipbuilding order since reviving the once-defunct Pipavav shipyard.
About the order: the tankers, each 18,000 DWT, will be built at Pipavav in Gujarat and designed by Marinform AS and StoGda (Norway). They will be certified by DNV, a global authority that ensures ships meet top safety and environmental standards.
The vessels will come with hybrid propulsion systems, Ice Class 1A standards, and can be upgraded for methanol or LNG fuel, making them future-ready and greener.
Why it matters: Pipavav was once one of India’s most promising private shipyards but had fallen into financial distress before Swan Defence took over.
Landing this global order is a major credibility boost for the company. For India, it signals a revival of private shipbuilding strength, attracting international clients.
