Swan Defence & Heavy Industries bag chemical tanker deal worth US$227 million
- IBEF
- January 27, 2026
Swan Defence & Heavy Industries has secured a chemical tanker construction contract valued at approximately Rs. 1,884 crore (US$ 227 million), marking a key achievement for India’s shipbuilding and maritime manufacturing sector. It adds to the Company’s current project backlog and demonstrates the increasing ability of Indian shipbuilders to construct specialized, high-value vessels for international buyers. The construction of Chemical Tankers is highly technical and requires advanced engineering capabilities, compliance with stringent safety requirements, and regulations outlined in various international maritime agreements. This contract reflects increasing international confidence in India’s shipbuilding ecosystem due to the vast improvements made to the infrastructure, highly skilled workforce, and compliance with globally recognized quality standards.
The order is expected to support capacity utilisation at Swan Defence & Heavy Industries’ shipbuilding facilities and generate employment across engineering, fabrication, and allied maritime services. Industry experts note that global demand for chemical tankers is rising due to increased trade in petrochemicals, specialty chemicals, and refined products, creating sustained opportunities for shipbuilders with specialised capabilities. The contract also aligns with India’s broader push to strengthen domestic shipbuilding under initiatives aimed at boosting manufacturing, expanding exports, and reducing dependence on foreign shipyards. By executing high-value and technically demanding projects, Indian shipbuilders are increasingly positioning themselves as competitive alternatives to established shipbuilding hubs in East Asia. The deal is likely to have positive spillover effects across the maritime value chain, including equipment suppliers, logistics providers, and service contractors. Overall, the contract reinforces India’s ambition to emerge as a global shipbuilding hub while supporting growth in high-value manufacturing, exports, and technological capabilities within the heavy industries and maritime sectors.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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