Greek Shipbuilding Revitalized with Landmark Tugboat Order
In a significant boost for the Greek shipbuilding sector, ONEX Shipyards & Technologies Group has partnered with MEGATUGS Salvage & Towage to construct two advanced tugboats. This landmark agreement, signed on December 19, 2025, at the Elefsina shipyard, marks the first new commercial shipbuilding order in Greece in decades. The vessels will be based on the renowned Robert Allan RAstar 2800 design, tailored for demanding maritime operations, with an option for two additional tugboats.
Reviving Elefsina and Syros Shipyards
This agreement represents a culmination of efforts to restore Greece’s industrial capabilities. Panos Xenokostas, Chairman and CEO of ONEX, highlighted the rapid recovery of the Elefsina Shipyards, which resumed operations less than three years ago. Previously, the Elefsina yard had suffered from years of neglect, with no commercial ships built between 2017 and 2022. Today, it operates at full capacity, having recently restored its Number 1 dry dock and is now servicing hundreds of vessels.
The revitalization of the Elefsina and Syros shipyards is a pivotal step in re-establishing Greece as a key player in the global shipbuilding industry. The ONEX takeover has transformed the Elefsina yard into a bustling hub of activity, signaling a shift from a focus on repairs to high-tech manufacturing. This transformation is crucial for the local economy and the maritime sector, as it aims to meet the increasing demands for advanced maritime solutions.
Strengthening U.S.-Greece Relations
The revitalization of the Elefsina shipyard has been significantly supported by international investment, particularly from the U.S. International Development Finance Corporation (DFC), which provided $125 million to modernize the facilities. This financial backing is part of a broader strategy to enhance regional stability and secure vital energy transit routes.
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U.S. Ambassador Kimberly Guilfoyle attended the signing ceremony, praising the project as a testament to the strengthening alliance between the United States and Greece. She emphasized that this initiative marks a new chapter for Greek shipbuilding, aligning with efforts to revive maritime sovereignty and create high-quality local jobs. The successful acquisition of this domestic order for world-class vessels positions Greece as a competitive force in the global shipbuilding market, capable of supporting critical LNG and energy infrastructure.
