Swan Defence Shares Rise 3% Amid Ammonia Vessel Project Announcement Worth ₹1,500-₹3,000 Crore

Swan Defence and Heavy Industries Secures Landmark Shipbuilding Order

Shares of Swan Defence and Heavy Industries rose over 3% to Rs 1,760 on the National Stock Exchange (NSE) on Tuesday after the company secured a landmark shipbuilding order. The company, which has been making significant strides in the Indian shipbuilding industry, 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 order, which falls under Category 4, 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. This project marks a significant milestone for Swan Defence and Heavy Industries, reflecting the confidence global stakeholders are placing in Indian shipbuilding. Energy ONE Limited, 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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The order is a testament to the capabilities of Indian shipbuilders and their ability to adapt to emerging trends in the maritime industry. As the world transitions to cleaner and more sustainable forms of energy, companies like Swan Defence and Heavy Industries are well-positioned to capitalize on this shift.