The vessels, to be built for Energy ONE, will be among the largest ever constructed at an Indian shipyard. It will feature next-generation ammonia-based propulsion systems aligned with global decarbonisation trends.

The project reflects the company’s capability in complex shipbuilding. It also aligns with the global shift toward low-emission shipping.

The first vessel is expected to be delivered in October 2029. Subsequent deliveries will follow at four-month intervals.

Swan Defence and Heavy Industries, formerly known as Reliance Naval and Engineering, is a leading shipbuilding and heavy fabrication company in India.

The company had reported a consolidated net loss of Rs 33.11 crore in the quarter ended December 2025 as against net loss of Rs 53.35 crore during the previous quarter ended December 2024. Sales surged to Rs 5.87 crore in Q3 FY26 from Rs 1.16 crore in Q3 FY25.