SDHI shares rise 5% as firm signs MoU with Wheel & Time Shipping

Shares of Swan Defence and Heavy Industries Limited (SDHI), a shipbuilding and heavy fabrication company, rose 5% on April 30 a day after the firm signed a strategic Memorandum of Understanding (MoU) with Wheel & Time Shipping Transport Logistics, which specialises in moving heavy and oversized cargo. With the alliance, SDHI has launched India’s first integrated F.A.S.T. (Fabrication, Assembly, Storage, and Transportation) commercial logistics ecosystem at its shipyard in Pipavav, Gujarat.

On April 30, Swan Defence shares hit 5% upper circuit to hit a new 52-week high of Rs 110 apiece.

"The F.A.S.T. model offers an unmatched turnkey ecosystem for executing heavy engineering projects in India by bringing together SDHI’s advanced fabrication and waterfront infrastructure and Wheel & Time’s end-to-end heavy logistics capabilities. The partnership will benefit high-value, time-sensitive projects and will target clientele dealing with material handling equipment at ports, marine infrastructure, petrochemicals, offshore EPC, oil & gas infrastructure and heavy engineering," said the firms in a joint statement.

Vivek Merchant, Director, Swan Defence & Heavy Industries Limited (SDHI) said: “Newbuilds, ship repairs, and heavy fabrication are central to SDHI’s growth plans. With strong capabilities in shipbuilding and repairs, this partnership with Wheel & Time Shipping Transport Logistics enhances our heavy engineering operations. Together, we can offer customers a more integrated, end-to-end solution. The F.A.S.T. logistics ecosystem allows EPC contractors and heavy industry players to concentrate on innovation and last-mile delivery, while we manage the complexities from fabrication to transportation.”