In June 2010, the Skaramagas Shipyards, the Elefsis Shipyards and the Syros Shipyards had a joint presence at the world’s largest shipping exhibition Posidonia. The crisis in shipping and Greece’s wider economic crisis led to the obsolescence of the three units in the following years.
Fourteen years later, the country’s three largest shipyards are re-presenting themselves to the international maritime public, with solid foundations and high ambitions. In 2024, the largest shipbuilding unit in the eastern Mediterranean launched its operations. The “Gordian knot” of Skaramangas, which was destroyed after the decision of the European Commission for irregular subsidies from the Greek state, was “cut” by the Greek shipowner and investor George Prokopiou.
Next to him, in the position of managing director is Miltiadis Varvitsiotis. The Skaramangas Shipyards have already started their commercial activities since February and have welcomed 11 vessels for repairs, including a 275 meter Suezmax tanker, a 228 meter LR1 tanker, two 268 and 228 meter Aframax tankers, two 176 meter container vessels and 140 meters, a 100 meter tanker and three mega yachts of 106, 72 and 47 meters. The biggest asset of the shipyards is the large fifth tank, which can even lift an aircraft carrier.
Skaramagas has invested in the upgrade of its facilities, strengthening the fire safety and firefighting systems and re-opening the large reservoir, which had been inactive for about 20 years. “Now, under new ownership and management, we are ready to showcase our world-class infrastructure and state-of-the-art equipment for heavy and specialized repairs. We will advance our plans and explore the possibilities of undertaking important and sophisticated shipbuilding projects,” Varvitsiotis noted. A few years earlier, the upward trajectory of Syros Shipyards, and then of Elefsis by the Onex group, began, with the group’s president and CEO Panos Xenokostas winning a series of ‘difficult bets’ in order to resume their operation.”
The Neorio Shipyards in Syros and the Elefsis Shipyard have repaired more than 500 ships, both foreign and Greek-owned, since ONEX Group took over their operation in 2019. ONEX Group’s business plan includes investments of 550 million dollars for the shipyards with the aim of supporting repair work on 300 ships per year. In the future, it also focuses on defense projects, but also on energy constructions.
As for the Elefsis Shipyards, which reopened in 2023, they have already completed 100 ship repairs, despite the fact that the tanks were repaired gradually. Today a panamax and an aframax operate.
It is noted that ONEX is the first shipbuilding group in the world to enter the Green Award.
