SDHI shares rise 3% after securing order from Denmark’s Svitzer

Shares of Swan Defence and Heavy Industries jumped nearly 3% on Thursday to hit the day’s high of Rs 2,618 on the NSE after the company announced that it had secured a contract from Denmark-based towage operator Svitzer A/S to construct four advanced TRAnsverse 3200 tugs.

According to a filing with the exchange, the company said deliveries for the order are scheduled to commence in early 2028, and the contract follows an extensive competitive evaluation of leading global shipyards.

The high-specification vessels will be constructed to Bureau Veritas standards, and will be built at SDHI’s yard in Pipavav, Gujarat, adjacent to the port where Svitzer also operates a harbour towage business, the company said.


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The patented TRAnsverse 3200 design, co-developed by naval architects Robert Allan and Svitzer, is built for complex harbour towage and escort operations. The vessels feature a unique hydrodynamic hull design and omni-directional propulsion, enabling them to guide large ships safely through challenging weather conditions and restricted port channels.

The design delivers an 80-tonne bollard pull and is up to 15% more fuel-efficient than conventional tug designs, helping support global maritime decarbonisation efforts.

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

This is the fourth consecutive export contract win for the company, Saxena said. He added that the achievement reflects the growing confidence of global industry leaders in SDHI’s ability to deliver vessels meeting the highest international standards. As the company expands its capabilities, it remains focused on strengthening India’s position as a globally competitive shipbuilding destination.

The TRAnsverse 3200 tugs will be biofuel-ready, compliant with IMO Tier III emission standards, and equipped with FiFi1 firefighting capabilities, reflecting their focus on lower environmental impact and enhanced fire-response readiness for port and terminal operations.

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

“Svitzer’s TRAnsverse tug design offers significant benefits to customers by easing 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 for the benefit of our customers and maritime supply chains globally,” said Kasper Friis Nilaus, CEO, Svitzer.

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The order is classified into five categories. The first category includes orders valued up to Rs 250 crore, while the second covers orders ranging from Rs 250 crore to Rs 750 crore. The third category comprises orders worth Rs 751 crore to Rs 1,500 crore, the fourth includes orders between Rs 1,501 crore and Rs 3,000 crore, and the final category covers orders above Rs 3,000 crore.

Over the last one month, the stock has gained 0.79%, while it is down 5.82% so far this calendar year. Over the past three and five years, the stock has risen 26.17% and 51.65%, respectively.

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