SDHI Revives Offshore Vessel Project with San Maritime
Mumbai-based Swan Defence and Heavy Industries Ltd (SDHI) is set to complete the construction of five offshore support vessels for San Maritime India Pvt Ltd. This development marks a significant step in clearing the legacy issues from the previous management of the Pipavav shipyard. The unfinished vessels were part of a larger order from Oil and Natural Gas Corporation Ltd (ONGC) that faced setbacks when the yard fell into bankruptcy.
Reviving a Troubled Shipyard
The five offshore support vessels were originally commissioned as part of a 12-ship order by ONGC when the Pipavav shipyard was operated by Reliance Naval and Engineering Ltd, led by Anil Ambani. While seven vessels were successfully delivered, the remaining five remained incomplete when the yard collapsed. Following the acquisition of the shipyard under India’s bankruptcy law, SDHI took over and sold these unfinished vessels to San Maritime on an “as is where is” basis.
San Maritime has now signed a contract with SDHI to dry dock and finalize the construction of these vessels. According to SDHI, the hulls were part of the acquisition plan from Reliance Naval and Engineering Limited (RNEL) through the National Company Law Tribunal (NCLT). The completion of these vessels is expected to enhance operational readiness and execution capabilities under the new management. The vessels will be completed in compliance with Indian Register of Shipping (IR Class) standards, catering to the growing demands of the offshore industry.
This initiative not only aims to bolster Indian-flag tonnage and offshore capabilities but also aligns with the Union government’s vision of promoting self-reliant shipbuilding. The project is anticipated to create jobs in the maritime sector and support local vendors and service providers within the shipbuilding ecosystem.
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New Opportunities on the Horizon
In addition to the offshore vessels, SDHI recently announced securing a defense export order from the Government of Oman for a state-of-the-art training ship. This vessel, originally commissioned by the Indian Coast Guard, will support the Royal Navy of Oman’s advanced naval training and maritime operations. The training ship, measuring 104.25 meters in length and equipped with modern facilities, is expected to be delivered within 18 months.
The successful sale of the training ship underscores the strong bilateral relations and maritime cooperation between India and Oman, suggesting that the deal has received support from the Union government. Furthermore, SDHI is also exploring opportunities to sell two unfinished Offshore Patrol Vessels (FPVs) ordered by the Indian Navy to an African nation, indicating a proactive approach to leveraging its assets.
