India, Jan. 23 -- Swan Defence and Heavy Industries Limited (SDHI) has signed its first newbuild contract for six IMO Type II chemical tankers, each of 18,000 DWT, marking a major milestone in India's commercial shipbuilding sector. The vessels will be constructed at SDHI's revitalized shipyard in Pipavav, Gujarat.
Valued at USD 227 million, the contract from leading European shipowner Rederiet Stenersen AS represents one of the largest single commercial shipbuilding orders awarded to an Indian shipyard and the first and largest chemical tanker order of its kind in the country. The agreement also includes an option for six additional sister vessels.
The first tanker is scheduled for delivery within 33 months, with subsequent deliveries at...