The Greek shipbuilding industry, a sector that for decades has faced crises, neglect, and a decline in production capacity, appears to be entering a new era of recovery and growth. This timing is no coincidence.
Geopolitical realignments, Europe’s growing need for defense autonomy, the restructuring of global supply chains, and the search for new industrial pillars of growth are creating an environment in which Greece is seeking to reposition itself on the international shipbuilding map.
At the heart of this effort are the country’s three major shipbuilding centers—the ONEX shipyards in Elefsina and Syros, the Skaramanga Shipyards, and the Salamina Shipyards. A common thread among these initiatives is the development of strategic partnerships with powerful industrial groups abroad, primarily from South Korea, Germany, and France, with the support of the United States within the broader strategic framework. These partnerships aim to strengthen the domestic production base, transfer know-how, develop advanced technologies, and create a modern industrial ecosystem.
The heads of the three shipyards, speaking to the Athens-Macedonian News Agency (ANA-MPA), paint a common picture: the effort to transform Greece into a regional hub for shipbuilding, defense industry, and the repair, maintenance, and construction of specialized high-value-added vessels.
At the same time, they highlight the importance of new investments for creating thousands of jobs, upgrading the skills of the workforce, 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 aim to leverage the country’s comparative advantage: its maritime tradition, its geographical location, and its experience in one of the most important sectors of the Greek economy.
ONEX: Project Trident and the ambition to create a new shipbuilding hub
The most ambitious investment plan is presented by ONEX through Project Trident, a program totaling €1.35 billion that aims to create a fully vertically integrated production line for warships and submarines with Greek participation exceeding 70% of the total project.
At the heart of the plan is a strategic partnership with South Korea’s Hanwha Ocean to develop capabilities for building advanced submarines and frigates. According to the investment plan, the first customer to join the frigate production line will take delivery of the first vessel in 2031, while delivery of the first submarine is scheduled for 2034.
The project is being developed in three phases. The first, worth 150 million euros, involves strengthening ship maintenance and repair capabilities through new infrastructure and dry docks. The second phase, worth €200 million, includes upgrading port facilities and developing modern logistics. The third and largest phase, worth €1 billion, involves the installation of advanced industrial equipment and automated production lines.
ONEX Group Chairman Panos Xenokostas emphasizes that the goal is for the Elefsina and Syros shipyards to become the “southern pillar” of the European shipbuilding industry.
As he notes to APE-MPE, the future lies in the introduction of automation, robotics, and artificial intelligence technologies, as well as the transfer of critical know-how that will enable Greece to acquire the capability to build submarines, frigates, and other complex naval vessels.
At the same time, the program is estimated to create up to 10,000 direct and indirect jobs, significantly boosting employment and domestic industrial production.
Skaramagas: From a fresh start to integration into the new European defense ecosystem
Skaramagas Shipyards is also playing a significant role in the new landscape of the Greek shipbuilding industry; within a short time of resuming operations, the company has expanded its activities in both the commercial and defense sectors.
Partnerships with South Korea’s HD Hyundai Heavy Industries and Germany’s TKMS are considered crucial.
The agreement with HD Hyundai Heavy Industries concerns the design and production of surface vessels and is expected to strengthen the Greek industry’s participation in future shipbuilding programs, transferring know-how and best practices from one of the world’s largest shipbuilding groups.
At the same time, the collaboration with TKMS focuses on upgrading the Hellenic Navy’s submarines, leveraging the German company’s expertise in Type 214 submarines.
The CEO of Skaramanga Shipyards, Miltiadis Varvitsiotis, points out to the Athens-Macedonian News Agency (ANA-MPA) that the shipyard’s trajectory serves as an example of how the revival of the Greek shipbuilding industry can be linked to the new needs of European defense and security.
As he notes, Greece possesses the human resources, geostrategic location, and maritime tradition required to play a leading role in the emerging European defense ecosystem.
According to him, the development of shipyards is not only about production but also about creating know-how, added value, and new jobs that can have a multiplier effect on the Greek economy.
Salamina: Specialization, high technology, and participation in international defense programs
As the third pillar of the Greek shipbuilding industry, Salamina Shipyards is investing in a strategy of specialization and participation in international defense supply chains.
The company has already developed significant activity in supporting high-tech defense programs and actively participates in the production of warship components for international clients.
A prime example is the collaboration with the French Naval Group on the FDI frigate program, through which Salamis Shipyards manufactures critical steel sections for ships intended for both the French and Greek Navies.
The chairman and CEO of Salamis Shipyards, George Koros, believes that the Greek shipbuilding industry is facing a historic opportunity, linked both to geopolitical developments and to Europe’s efforts to strengthen its strategic autonomy.
As he emphasizes, the goal is not mass production but the development of high-value-added ships for specialized markets. In this context, Salamina Shipyards is exploring the expansion of its activities into the construction of new-generation commercial vessels, with a particular focus on LNG carriers and high-specification dry cargo ships.
This strategy is directly linked to the energy transition and the international demand for more efficient and environmentally friendly ships, a sector in which the Greek industry seeks to establish a stronger presence.
He emphasizes that Greece currently possesses all the necessary conditions to transform its maritime power and geostrategic position into industrial added value, with the shipbuilding industry evolving into one of the key pillars of the country’s development path.