The stock touched an intraday high of Rs 2,874.55, which was also its 52-week high and the upper price band for the day. The company quoted around $48.9 million per vessel when price bids were opened on Friday, October 9, beating state-run Cochin Shipyard Ltd, which quoted around $4 million more per vessel.
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Swan Defence's tanker opportunity after 25 years
The proposed order involves two firm and two optional dual-fuel-ready medium-range product tankers, each capable of carrying 17,000-18,000 tonnes of cargo. The contract, once signed, would mark the first attempt in a quarter of a century to build oil tankers locally.Swan Defence has a technical tie-up with Samsung Heavy Industries, one of South Korea's top three shipbuilders. The company restarted operations in 2024 under new management led by Swan Corp and has since secured multiple vessel-building contracts.
Growing order book supports shipbuilding ambitions
The shipyard has secured an order from Energy ONE Ltd to build four dual-fuel ammonia bulk carriers in a deal valued at $240-280 million. It has also won a $227 million contract to build six chemical tankers, each with an 18,000-tonne capacity, for European shipowner Rederiet Stenersen AS.Separately, Swan Defence has signed a contract with Copenhagen-based Svitzer Group to construct four biofuel-powered TRAnsverse tugs worth around Rs 500 crore.
The proposed tanker order comes amid the government's push to strengthen domestic shipbuilding, backed by a Rs 69,725 crore package approved by the Cabinet in September 2025. If finalised, the contract would add to Swan Defence's growing pipeline of orders as the industry seeks to expand local vessel manufacturing.
Disclaimer: This article has been written by Sakshi Kumari, who is not a SEBI-registered Research Analyst or an Investment Adviser. Sakshi Kumari and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
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