Swan Defence Secures Shipbuilding Contract Worth $227 Million from European Shipowner

MT Newswires Live

Jan 23

Swan Defence and Heavy Industries (NSE:SWANDEF, BOM:533107) has bagged a contract worth $227 million from European shipowner Rederiet Stenersen to build chemical tankers, according to a Thursday filing to the Indian stock exchanges.

The contract is for building six 18,000 deadweight tonnage (DWT) IMO Type II chemical tankers at the company's revitalized shipyard in Pipavav, Gujarat, India. The first vessel is scheduled for delivery within 33 months.

The agreement also includes an option for an additional six sister vessels.

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