Order Specifications and Timeline
Swan Defence and Heavy Industries (SDHI) has entered into a contract with Svitzer A/S, a leading Danish towage provider, to construct four TRAnsverse 3200 tugs. These vessels are co-developed by Robert Allan Ltd. and Svitzer, featuring a unique hydrodynamic hull design and omni-directional propulsion for complex harbor operations.
Engineered to deliver an 80-tonne bollard pull, these tugs are approximately 15% more fuel-efficient than conventional designs. The construction will take place at SDHI's Pipavav facility in Gujarat, with the delivery cycle expected to begin in the first quarter of 2028. The order is part of Svitzer's global fleet renewal program.
Strategic Importance
- Strengthens SDHI’s position as a globally competitive shipbuilder in the high-specification vessel segment
- Supports the Government of India’s Maritime India Vision 2030 and Make in India initiatives
- Provides revenue visibility into 2028 through a high-value international export contract
- Leverages the strategic proximity of the Pipavav shipyard to Svitzer’s existing harbor operations
- Vessels are designed to meet IMO Tier III emissions standards, supporting maritime decarbonization goals
Management Perspective
Winning our fourth consecutive export contract also reflects the growing confidence of global category leaders in SDHI's ability to deliver to the highest international standards. As we continue to expand our capabilities, we remain focused on strengthening India's position as a globally competitive shipbuilding destination.
Financial Context and Market Position
SDHI, formerly known as Reliance Naval and Engineering Limited, has seen its stock price surge by over 655% in the past year, currently trading near its 52-week high. Despite reporting a net loss of ₹142.15 crore in the latest quarter, the company’s operating revenue saw a dramatic year-on-year increase of 4,712%, reaching ₹236.28 crore. The company maintains a strong promoter holding of 89.9%.
With a massive fabrication capacity of 164,000 tons per annum and the country’s largest dry dock, SDHI is leveraging its infrastructure to pivot toward specialized, high-margin international shipbuilding projects.
