India’s shipbuilding and heavy fabrication company Swan Defence and Heavy Industries Limited (SDHI) has signed a letter of intent (LoI) with European ship owner and operator Rederiet Stenersen AS for the construction of six IMO Type II chemical tankers, with a 18,000-dwt capacity each, worth around $220m.

The agreement includes an option for six additional ships to follow under the same class.

The ships will be built at SDHI’s facility in Pipavav, Gujarat, designed by Norway’s Marinform AS, and classed by DNV.

Each ship will be built to Ice Class 1A standards and feature an advanced hybrid propulsion system.

The design also comes with the ability to convert to methanol or LNG fuel and upgrade battery capacity up to 5,000-kWh.

“This partnership marks a defining moment for SDHI and for Indian shipbuilding – our first major export of advanced chemical tankers to Norway,” said SDHI director Vivek Merchant. “The trust placed in us by Rederiet Stenersen AS reflects global confidence in India’s shipbuilding capabilities.”

The delivery timelines and detailed commercial terms will be finalized under the subsequent shipbuilding contract.

Rederiet Stenersen AS, established in 1974, owns and operates a fleet of 19 chemical/product tankers ranging from 16,000 to 19,000 dwt, trading primarily in Northern Europe.