Why This Deal Matters for India’s Shipbuilding Ambitions
India’s shipbuilding sector has long struggled to break into complex, high-value commercial vessels dominated by East Asian and European yards. As policy support improves and private shipyards invest in capability upgrades, global shipowners are beginning to place confidence in Indian-built vessels.
What Has Been Announced
Swan Defence and Heavy Industries (SDHI), owner of the Pipavav Shipyard in Gujarat, has signed a newbuild contract to construct six chemical tankers for European shipowner Rederiet Stenersen AS. Valued at $227 million, the contract represents one of India’s largest single commercial shipbuilding orders and the first chemical tanker order secured by an Indian shipyard.
The agreement also includes an option for six additional sister vessels, potentially doubling the order size.
Delivery Timeline and Vessel Specifications
The first tanker is scheduled for delivery within 33 months, with subsequent vessels to be delivered at regular intervals. Each ship will measure approximately 150 metres in length with a beam of around 23 metres.
The vessels will be designed by Marinform AS and StoGda Ship Design & Engineering, and classed by DNV. Built to Ice Class 1A standards, they will feature dual-fuel, LNG-ready hybrid propulsion systems with high levels of automation.
Policy Environment and Industry Context
SDHI attributed the win to supportive maritime policies, including India’s Shipbuilding Financial Assistance scheme, which has helped private shipyards compete with global peers on cost and capability.
Evergreen Insight: India Is Moving Up the Shipbuilding Value Chain
Chemical tankers are technically demanding vessels requiring advanced design, safety systems, and propulsion technologies. This order signals India’s gradual shift from basic ship construction toward specialised, export-grade commercial vessels.
Operator Takeaway
For operators and manufacturers, the deal underscores how policy support combined with execution capability can unlock global opportunities in capital-intensive industrial sectors like shipbuilding.
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