India's Swan Defence and Heavy Industries (SDHI) has signed a contract for the construction of six IMO Type II chemical tankers. The agreement, valued at $227 million, was made with European shipowner Rederiet Stenersen and is described as the first chemical tanker order placed with an Indian shipyard.
SDHI stated that the contract is "one of the largest" commercial shipbuilding deals for the nation.
The vessels will each have a deadweight of 18,000 DWT and are scheduled for construction at the Pipavav shipyard in Gujarat. The first vessel is scheduled by SDHI for delivery within 33 months, and the agreement includes an option for an additional six sister vessels.
Each tanker will have an overall length of approximately 150 metres and a beam of approximately 23 metres. The designs will be provided by Marinform and StoGda Ship Design and Engineering, with classification by DNV.
Built to Ice Class 1A standards, the tankers will feature hybrid propulsion systems that are dual-fuel LNG ready and incorporate automation.
Vivek Merchant, Director of Swan Defence and Heavy Industries, stated that progressive maritime policies, such as the shipbuilding financial assistance scheme, have enabled private shipyards in India to compete with global peers.
John Stenersen, Director – Ship Management at Rederiet Stenersen, said, “This is our first newbuilding contract placed with an Indian shipyard, following a comprehensive technical and commercial evaluation.”
The contract follows the signing of a letter of intent between the two companies in November 2025.
