Mumbai: Swan Defence and Heavy Industries Limited (SDHI), India’s largest shipbuilding and heavy fabrication company, has signed a Letter of Intent (LoI) with European ship owner and operator Rederiet Stenersen AS for construction of 6 (six) nosIMO Type II chemical tankers, each of 18,000 DWT capacity.

The LoI marks a defining moment for India’s shipbuilding exports, covering six vessels valued at approximately USD 220 million, with an option for an additional six ships under the same class, the company said on Monday.

This is SDHI’s first shipbuilding order since acquiring and reviving the previously “sick” shipyard at Pipavav. The vessels are set to be built at the Pipavav shipyard in Gujarat, according to an official statement.

Each tanker has been conceived as future-ready. The design allows conversion to methanol or LNG fuel and includes provisions to upgrade battery capacity up to 5,000 kWh, enabling significant improvements in green performance and adaptability for alternative fuels and technologies.

Commenting on the contract, Vivek Merchant, Director of SDHI, said, “This partnership marks a defining moment for SDHI and for Indian shipbuilding — our first major export of advanced chemical tankers to Norway. We see this as a step towards realizing India’s maritime ambitions by building large and complex vessels across tankers, bulkers, and specialized segments. The trust placed in us by Rederiet Stenersen AS reflects global confidence in India’s shipbuilding capabilities and SDHI’s commitment to deliver world-class, future-ready vessels.” DeshGujarat