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.
Also Read |South Korea’s Kospi tumbles 5% after 2-day rally, angry retail investors vow not to invest again
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.
Swan Defence and Heavy Industries.
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.
Also Read |Juniper Green Energy shares list at 9% premium over IPO price
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.
(Disclaimer: Recommendations, suggestions, views and opinions given by experts are their own. These do not represent the views of The Economic Times)
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)
Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price