The Greek shipbuilding industry is a sector that enters a new period of reconstruction and growth. This development is not coincidental. Geopolitical realignments, Europe’s increasing need for defense autonomy, the restructuring of global supply chains, and the search for new industrial drivers of growth are creating an environment in which Greece is seeking to reposition itself on the international shipbuilding map. (Cover photo: ONEX's shipyards in Syros).

At the center of this effort are the country’s three major shipbuilding hubs: ONEX’s shipyards in Elefsina and Syros, Skaramangas Shipyards, and Salamis Shipyards. A common feature of these initiatives is the development of strategic partnerships with major industrial groups from abroad, primarily from South Korea, Germany, and France, with the support of the United States within a broader strategic framework. These partnerships aim to strengthen the domestic industrial base, facilitate the transfer of expertise and know-how, promote the development of advanced technologies, and create a modern industrial ecosystem.

At Posidonia 2026, the ONEX Shipyards & Technologies Group presented its comprehensive vision for the future of the shipbuilding industry, energy, maritime infrastructure, and emerging technologies. At the center of the Group’s presence were new shipbuilding projects, energy developments, offshore energy production solutions, the serial production of ONEX RAstar 2800 tugboats, as well as the advanced repair, conversion, and technical support services provided by ONEX’s shipyards in Elefsina and Syros. (Source: https://www.facebook.com/OnexElefsisShipyardsSA/ )

The heads of the three shipyards, speaking to the Athens-Macedonian News Agency (ANA-MPA), describe a shared vision: transforming Greece into a regional hub for shipbuilding, defense manufacturing, ship repair and maintenance, and the construction of specialized high-value-added vessels. At the same time, they emphasize the importance of new investments in creating thousands of jobs, upgrading workforce skills, and strengthening the country’s industrial presence. At a time when Europe is seeking new production capabilities in the defense and industrial sectors, Greek shipyards are aiming to capitalize on the country’s comparative advantages: its maritime heritage, strategic geographic location, and extensive experience in one of the most important sectors of the Greek economy.

The common denominator across all three cases is that the revival of the Greek shipbuilding industry is no longer viewed as an isolated industrial initiative, but rather as part of a broader national strategy that integrates the economy, technology, defense, and international competitiveness. The international partnerships already underway are creating the conditions for Greek shipyards to regain a significant position on the global stage, transforming a traditional sector of the economy into a major driver of growth for the decades ahead.

ONEX’s shipyards in Elefsina and Syros

ONEX's shipyards in Elefsina (photo amna.gr)

ONEX's shipyards in Syros

The most ambitious investment plan is being presented by ONEX through Project Trident, a €1.35 billion program that aims to establish a fully integrated production line for warships and submarines, with Greek participation exceeding 70% of the total project value. At the heart of the initiative is a strategic partnership with South Korean company Hanwha Ocean to develop capabilities for constructing advanced submarines and frigates. According to the investment plan, the first customer to join the frigate production line would receive its first vessel in 2031, while delivery of the first submarine is projected for 2034.

According to Panos Xenokostas, Chairman of the ONEX Group, the objective is to transform the shipyards of Elefsina and Syros into the “southern pillar” of the European shipbuilding industry. As he told ANA-MPA, the next stage of development is closely tied to the introduction of automation, robotics, and artificial intelligence technologies, as well as the transfer of critical expertise that would enable Greece to acquire the capability to build submarines, frigates, and other complex naval vessels. At the same time, the program is expected to create up to 10,000 direct and indirect jobs, providing a significant boost to employment and domestic industrial production.

Skaramangas Shipyards

Skaramangas Shipyards (photo amna.gr)

Skaramangas Shipyards are also poised to play a significant role in the evolving landscape of the Greek shipbuilding industry. Within a short period following the resumption of their operations, the shipyards have expanded their activities in both the commercial and defense sectors. Particularly important are the partnerships with South Korea’s HD Hyundai Heavy Industries and Germany’s TKMS (ThyssenKrupp Marine Systems). The agreement with HD Hyundai Heavy Industries focuses on the design and construction of surface vessels and is expected to strengthen the participation of Greek industry in future shipbuilding programs through the transfer of expertise and best practices from one of the world’s largest shipbuilding groups. At the same time, the cooperation with TKMS is centered on the modernization of the Hellenic Navy’s submarine fleet, leveraging the German company’s extensive expertise in Type 214 submarines.

Within the framework of Posidonia 2026, a Memorandum of Understanding (MoU) was signed between Skaramangas Shipyards, represented by Miltiadis Varvitsiotis (right), and HD Hyundai Heavy Industries, represented by Kim Jae Rak (https://www.amna.gr/) 

The Chief Executive Officer of Skaramangas Shipyards, Miltiadis Varvitsiotis, told ANA-MPA that the shipyards’ trajectory serves as an example of how the revival of the Greek shipbuilding industry can be linked to the emerging needs of European defense and security. As he noted, Greece possesses the skilled workforce, geostrategic location, and maritime tradition required to play a leading role in the evolving European defense ecosystem. He added, the development of the shipyards is not solely about industrial production; it is also about creating expertise, generating added value, and fostering new employment opportunities that can have a multiplier effect on the Greek economy.

Salamis Shipyards

At the third pillar of the Greek shipbuilding industry, Salamis Shipyards are pursuing a strategy focused on specialization and participation in international defense supply chains. The company has already developed significant activity in supporting high-technology defense programs and is actively involved in the production of sections and components for naval vessels serving international customers. A notable example is its partnership with Naval Group under the FDI Frigate Program. Through this collaboration, Salamis Shipyards manufactures critical steel structures and ship sections for vessels destined for both the French Navy and the Hellenic Navy.

The Chairman and Chief Executive Officer of Salamis Shipyards, George Koros, believes that the Greek shipbuilding industry is facing a historic opportunity, driven both by geopolitical developments and by Europe’s efforts to strengthen its strategic autonomy. As he emphasizes, the objective is not mass production but the development of high-value-added vessels for specialized markets. Within this framework, Salamis Shipyards are exploring the expansion of their activities into the construction of next-generation commercial vessels, with particular emphasis on LNG carriers and high-specification dry cargo ships. This strategy is directly linked to the energy transition and the growing global demand for more efficient and environmentally friendly vessels—a sector in which Greek industry is seeking to establish a stronger presence.

He further stresses that Greece today possesses all the necessary prerequisites to transform its maritime strength and geostrategic position into industrial value creation, with the shipbuilding industry evolving into one of the key pillars of the country's economic development.

Salamis Shipyards - FDI Frigate Formion Blocks Construction

(Source: “Greek Shipyards Invest in International Partnerships and Seek a Role in the European Defense Ecosystem” by Thanassis Papadis, https://www.amna.gr/ )

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