Swan Defence Secures Export Order from Denmark's Svitzer to Build Four Advanced Tugs

Swan Defence and Heavy Industries Ltd has been awarded an export order by Svitzer, the Danish towage and marine services provider, to construct four advanced tug vessels. The contract was granted following a competitive evaluation process that included leading global shipyards, underscoring the growing competitiveness of Indian shipyards in the global commercial vessel market, where East Asian builders have traditionally dominated.

All four vessels will be built at Swan Defence's shipyard in Pipavav, Gujarat. Deliveries are scheduled to commence in early 2028.

Svitzer, headquartered in Copenhagen, is a subsidiary of A.P. Moller-Maersk and is one of the largest towage operators in the world, providing harbour towage, terminal services, and emergency response across multiple continents. The company operates a fleet of several hundred vessels globally, making supplier reliability and build quality critical factors in its shipyard selections.

Swan Defence and Heavy Industries Ltd, formerly known as Reliance Naval and Engineering Ltd, operates what is among the largest shipbuilding infrastructure in India at its Pipavav facility in Gujarat's Amreli district. The shipyard has the capacity to build a wide range of vessels, including naval ships, commercial vessels, and offshore platforms. The facility is part of India's broader push under initiatives such as the Shipbuilding Financial Assistance Policy to expand the country's share of global shipbuilding orders and position Indian yards as viable alternatives for international operators.

The export order from a major European marine services company represents a significant international contract for the Indian shipbuilder and adds to a growing pipeline of export-oriented commercial vessel contracts being secured by Indian yards. Swan Defence and Heavy Industries Ltd is listed on Indian stock exchanges under the ticker symbol PS04.

Source: CNBC-TV18