Defence Stock: Shares of Swan Defence and Heavy Industries Ltd (SDHI), a company operating in India’s defence and shipbuilding sectors, are expected to remain in focus in the upcoming days as the company has secured a contract worth Rs 251-750 crore from Danish-based towage operator Svitzer A/S to build four advanced TRAnsverse 3200 tugs.
Deliveries for the order are scheduled to commence in early 2028, the company said in a statement.
The order was awarded following a competitive bidding process involving leading global shipyards. The advanced tugboats will be constructed at SDHI’s Pipavav shipyard in Gujarat and built to Bureau Veritas classification standards.
The deal marks SDHI’s fourth consecutive export order and aligns with Svitzer’s long-term fleet renewal programme, which focuses on deploying next-generation, high-efficiency vessels for port and terminal operations.
Swan Defence and Svitzer A/S contract details
Co-developed by naval architects Robert Allan Ltd. and Svitzer, the patented TRAnsverse 3200 design is engineered for complex harbour towage and escort operations.
Featuring an unique hydrodynamic hull design and omni-directional propulsion, the vessels are capable of safely guiding large ships through severe weather and restricted port channels, Swan Defence said in the statement.
Delivering an 80-tonne bollard pull, the TRAnsverse design is up to 15 per cent more fuel efficient than conventional tug designs, directly supporting global maritime decarbonization goals, it said.
Rear Admiral Vipin Kumar Saxena IN (retd.), CEO of SDHI said, “It is indeed a notable achievement for SDHI to construct one of the world’s most sophisticated towage vessels. Svitzer’s rigorous evaluation process reaffirms the strength of our engineering capabilities in the niche, high-specification vessel segment. 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.”
Commenting on the partnership with SDHI, Kasper Friis Nilaus, CEO, Svitzer said, “Svitzer’s TRAnsverse tug design offers significant benefits to customers in terms of releasing operational constraints and improving port productivity, sustainability and safety margins. We are pleased to partner with SDHI to deliver four of these next-generation vessels to the benefit of our customers and maritime supply chains globally.”
The Transverse 3200 tugs will be biofuel, IMO Tier III emissions standards, and FiFi1 firefighting class ready, reflecting the vessels’ capability for reduced environmental impact and enhanced fire-response readiness in port and terminal operations.
Copenhagen-headquartered Svitzer operates a fleet of over 500 vessels worldwide. This order is a part of Svitzer’s long-term fleet renewal programme, aimed at deploying next-generation, high-efficiency vessels to optimize port and terminal operations globally.
The vessels will be built at SDHI’s yard in Pipavav, Gujarat, adjacent to the port where Svitzer also has a harbour towage operation.
Swan Defence shares have yielded returns of approximately 647 per cent over the last one year, with the stock climbing more than 73 per cent year-to-date.
Market experts believe that companies in the defence and shipbuilding sectors will continue to attract investor attention, driven by rising government investment, export orders, and robust order books.
