Swan Defence secures $227 mn deal for chemical tankers at Pipavav yard

Swan Defence and Heavy Industries has signed a $227 million contract to build six chemical tankers, marking the first large commercial chemical vessel order awarded to an Indian shipyard

Swan Defence and Heavy Industries (SDHI), which owns the Pipavav Shipyard in Gujarat, on Friday announced the signing of a newbuild contract for six chemical tankers, marking the first such deal for any Indian shipbuilder.

 

What is the size and significance of the chemical tanker order?

 

“Valued at $227 million, the contract from leading European shipowner Rederiet Stenersen AS represents one of India’s largest single commercial shipbuilding orders and the first and the largest chemical tanker order awarded to an Indian shipyard,” the company said. The agreement includes an option for an additional six sister vessels.

 

How does the company view the policy environment for shipbuilding?

 

“Progressive maritime policies, including the Shipbuilding Financial Assistance scheme, have enabled Indian private shipyards to compete successfully with leading global peers,” said Vivek Merchant, director at SDHI.

 

When will the vessels be delivered?

 

The first vessel is scheduled for delivery within 33 months, with subsequent deliveries planned at regular intervals. Each tanker will have an overall length of around 150 metres and a beam of around 23 metres.

 

What are the design and technical features of the vessels?

 

The vessels will be designed by Marinform AS and StoGda Ship Design & Engineering and classed by DNV. Built to Ice Class 1A standards, the tankers will feature dual-fuel, LNG-ready hybrid propulsion, enabling multiple operational modes supported by high levels of automation.