Swan Defence shares hit 52-week high on bagging contract from Denmark's Svitzer worth up to ₹750 crore

Worth between ₹251 crore and ₹750 crore, Swan Defence said that the high-specification vessels will be constructed to the Bureau Veritas class.

Swan Defence in a regulatory filing explained that the patented TRAnsverse 3200 design, co-developed with naval architects Robert Allan and Svitzer, is engineered for complex harbour towage and escort operations.

It added that the vessels feature a unique hydrodynamic hull design and omni-directional propulsion, enabling them to safely guide large ships through severe weather and restricted port channels.

The company further said that the TRAnsverse design delivers an 80-tonne bollard pull and is up to 15% more fuel efficient than conventional tug designs. This, it said, directly supports global maritime decarbonisation goals.

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.

Commenting on the development, Svitzer CEO Kasper Friis Nilaus said, “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 contract also reflects our continued investment in the Indian maritime sector, highlighting our ongoing commitment to the Government of India's Maritime India Vision 2030, Make in India, and Atmanirbhar Bharat initiatives.”

Copenhagen-headquartered Svitzer operates a fleet of over 500 vessels globally. This order is a part of Svitzer's long-term fleet renewal programme, aimed at deploying next-generation, high-efficiency vessels to optimise port and terminal operations globally.

The vessels will be built at Swan Defence’s (SDHI) yard in Pipavav, Gujarat, adjacent to the port where Svitzer also has a harbour towage operation.

“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,” said Rear Admiral Vipin Kumar Saxena IN (retd.), CEO, Swan Defence and Heavy Industries.

At the time of writing the piece, Swan Defence shares were trading at ₹2,590 apiece on the National Stock Exchange, gaining 1.51%.