07 Apr , 2026 By : Debdeep Gupta
Shares of Swan Defence and Heavy Industries rose over 3% to Rs 1,760 on the NSE on Tuesday after the company secured a landmark shipbuilding order.
In a regulatory filing, the company said it has won a Category 4 order from Energy ONE Limited to build four 92,500 DWT dual-fuel ammonia bulk carriers - a first-of-its-kind project in India.
The company said the order falls under Category 4, which typically ranges between Rs 1,500 crore and Rs 3,000 crore.
These vessels will be the first ammonia dual-fuel ships to be built domestically and are also among the largest commercial ships ever constructed at an Indian shipyard.
Each vessel will measure 229.5 metres in length with a beam of 37 metres and will be equipped with ammonia-fuelled propulsion systems. The ships will be designed by KMS-EMEC, South Korea, and classified by Det Norske Veritas.
The first vessel is expected to be delivered in October 2029, with the remaining ships scheduled at four-month intervals thereafter.
Commenting on the development, Vivek Merchant, Director, Swan Defence and Heavy Industries Limited (SDHI), said, "Winning this project is an important step forward for us. It reflects the confidence global stakeholders are placing in Indian shipbuilding, and in the capabilities, we have developed at Pipavav. Ammonia as a marine fuel is still at an early stage, and we are proud to be part of that transition - building vessels that are not just relevant for today but aligned with where the industry is heading."
Energy ONE, a general partner of New Energy One (NEO), is focused on investing in green shipping assets, with a broader plan to deploy about $2 billion into zero-emission vessels.
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