The Renaissance of Greek Shipyards: From Stagnation to Strategic Hub

Ship repairs astatine Greek yards person much than doubled implicit the past decade, climbing from 330 successful 2013 to 700 successful 2024. Credit: AMNA

After much than a decennary of stagnation, Greek shipyards are undergoing a melodramatic and definitive turnaround. Historic facilities successful Elefsina, Syros, Salamina, and Skaramagas, which had been reduced to concern voids, are present making a comeback.

This resurgence is fueled by the introduction of backstage investors, broad administrative restructuring, and escalating planetary request for vessel repair and shipbuilding services. Furthermore, European defence initiatives, peculiarly the SAFE (Security Action for Europe) program, are providing a boost.

Key players successful Greek shipyards

The sector’s revitalization is driven by important backstage concern crossed the large facilities:

Skaramagas Shipyards: Under the power of shipowner George Prokopiou since March 2023, the gait has go a reconstruction hub with the explicit extremity of returning to the forefront of the planetary vessel repair market.

Syros shipyard. Credit: ONEX

Syros and Elefsina Shipyards: Managed by ONEX Shipyards & Technology (Panos Xenokostas), these units are evolving into modern, outward-looking concern centers. Annual repairs person exceeded 220, and concern plans see the operation of caller vessels, vigor platforms, and specialized LNG carriers.

Salamina Shipyards: This gait has emerged arsenic 1 of the astir dynamic pillars of Greek shipbuilding. By participating successful the operation of the FDI HN frigate Formion and 2 others for the French Navy, Salamina became the archetypal Greek portion to export subject shipbuilding material. With a five-year, €15 cardinal concern program, Salamina is expanding its activities done planetary collaborations, probe projects for unmanned vessels, and information successful the planned “National Ship” program.

According to the Hellenic Statistical Authority (ELSTAT), vessel repairs astatine Greek yards person much than doubled implicit the past decade, climbing from 330 successful 2013 to 700 successful 2024. This betterment is generating tangible societal impact: hundreds of workers are returning to the docks, and dozens of smaller contractors are present operating astatine afloat capacity, starring to renewed prosperity successful section areas similar Perama.

Defense strategy and European funding

The Skaramangas Shipyards hopes to undertake blase caller gathering projects. Credit: Hellenic Shipyards

A captious constituent of this caller trajectory is the SAFE (Security Action for Europe) program, a European inaugural with a full fund of €150 billion. SAFE provides subordinate states with long-term, low-interest loans for associated procurement and concern successful captious defence capabilities.

Greece has been approved for €787.6 cardinal nether the SAFE program, a sum that tin substantially fortify the home defence and shipbuilding industry, upgrade indispensable infrastructure, and enactment information successful European accumulation programs.

As noted by Hellenic Chamber of Commerce and Industry President Vassilis Korkidis, SAFE acts arsenic a “lever for growth,” enhancing the shipyards’ engagement successful European programs and creating some jobs and important added worth for the Greek economy.

Flagship defence projects

The assemblage is poised for monolithic home work, notably the planned acquisition of 4 caller submarines for the Hellenic Navy. This task is expected to beryllium a cornerstone of Greek naval powerfulness for the adjacent decade.

A competitory tender has attracted proposals from starring yards successful Sweden, Germany, France, Italy, and South Korea, with a beardown likelihood that the operation of the caller submarines volition instrumentality spot astatine Greek facilities.

The palmy motorboat of the FDI HN frigate Phormion successful Lorient, France, past May, showcased the industry’s capabilities, arsenic sections of the vas were built astatine Salamina Shipyards. This collaboration with Naval Group marked a pivotal moment, opening the doorway for aboriginal planetary agreements.

Greece aims for a minimum of 25% section information successful armament programs to guarantee exertion transfer, cognition integration, and the instauration of a stable, semipermanent accumulation infrastructure.