India’s First Chemical Tanker Order Advances Shipbuilding Ambitions
Swan Defence and Heavy Industries Limited (SDHI), located in India, confirmed that it has received its first shipbuilding order as part of the revitalization of its operations. The order, which comes from a European shipowner, is both the country’s first for a chemical tanker and aligns with India’s ambitions to develop into a leading global shipbuilder.
The order was placed by Bergen, Norway-based Rederiet Stenersen, a 50-plus year old operator of chemical/product tankers. The company currently has a fleet of 19 vessels, all equipped to operate in the harsh conditions of the North Europe trade. The order, which is valued at $227 million, is the company’s first foray into Indian shipbuilding, and they note that it was placed after a comprehensive technical and commercial evaluation. A Letter of Intent was signed in November 2025.
The order is for six tankers, each 18,000 dwt and approximately 150 meters (492 feet) in length. The first vessel is due for delivery in 33 months, and the company has an option for six additional vessels after the first group.
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 advanced dual-fuel LNG-ready hybrid propulsion, enabling multiple operational modes supported by high levels of automation.
Swan Defence and Heavy Industries Limited (SDHI), formerly Reliance Naval and Engineering Limited, was acquired and restarted in 2024 after the bankruptcy of the prior owners. The company aspires to be a large, world-class builder of commercial vessels and other projects, including heavy fabrication. They note the revitalized SDHI shipyard, which is located in Pipavav, Gujarat, on India’s west coast, operates the country’s largest dry dock (662 meters by 65 meters) and has a fabrication capacity of 164,000 tonnes per year.
The company’s director, Vivek Merchant, highlighted that the order is a demonstration of India’s growing commercial shipbuilding ecosystem. The government of Prime Minister Narendra Modi is taking steps to realize the Prime Minister’s call for India to become a top 10 global shipbuilding nation by 2030 and a top five shipbuilder by 2047.
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The government outlined its Shipbuilding Financial Assistance Scheme as part of the effort to support the industry and attract international interest. The program was amended just days ago to include product/chemical tankers.
The tanker order follows the announcement that CMA CGM intends to build containerships in India. The government and industry have also been courting other major companies, including Maersk and MSC.