India’s shipbuilding sector is taking a decisive step toward greener technology, with Swan Defence and Heavy Industries Limited (SDHI) landing a first-of-its-kind order from Energy ONE Limited for the construction of four 92,500-dwt dual-fuel ammonia bulk carriers.
The order, categorized under category 4 with a value between Rs 1,501 crore and Rs 3,000 crore, represents a milestone for the Indian shipbuilding industry.
Each vessel will measure 229.5m in length with a beam of 37m and will feature ammonia-fuelled propulsion systems.
The vessels will be designed by South Korea-based KMS-EMEC and classed by Det Norske Veritas, a globally recognized classification society.
The first vessel is expected to be delivered in October 2029, with subsequent deliveries scheduled at four-month intervals.
“Winning this project is an important step forward for us. It reflects the confidence global stakeholders are placing in Indian shipbuilding, and in the capabilities, we have developed at Pipavav,” said Vivek Merchant, director at Swan Defence and Heavy Industries Limited (SDHI).
Energy ONE Limited is a general partner for New Energy One (NEO), an investment fund registered in Jersey Channel Islands. With a total capital investment program of $2bn in zero emission ships, NEO is committed to investing in new building green assets.
NEO has executed an MoU with Sagarmala Finance Corp Ltd (SMFCL) for the Maritime Development Fund (MDF) to co-invest in green shipping projects, SDHI said in its press release on Tuesday, April 7.
