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Onex tug order marks renaissance for Greek shipbuilding

  • First contract signing envisaged ‘in the coming weeks’
  • Government sees the project as the sector’s ‘rebirth’ in Greece
  • First steel cutting due to take place before year’s end

Co-operation agreement for 20 tugs signed with Bureau Veritas

ONEX Elefsis Shipyards has unveiled an imminent order for up to four tugs that is being widely hyped as marking the revival of commercial newbuilding activities in Greece after a drought lasting decades.

The mooted firm order is part of an envisaged series of 20 tugs or more, a project that has taken a step forward with the signing of an agreement with Bureau Veritas for technical co-operation and classification.

Since the US- and Greece-based Onex Group took over the Neorion Shipyard in 2028, later adding Elefsis Shipyards, it has repaired more than 700 vessels in the two locations, while the recently reopened Skaramangas Shipyard, under the ownership of shipping tycoon George Prokopiou, has repaired more than 50 over the past year.

But newbuilding orders have been seen as little more than an ambitious goal.

“We decided to start with tugs because they represent a controlled, manageable investment,” said Onex chief executive Panos Xenokostas.

He said that Onex had collaborated with Robert Allan Naval Architects, MAN Energy Solutions, Schottel and other leading companies “to design a state-of-the-art tug”.

The RAstar 2800 tug type was described as having the latest generation of engines and will be adaptable to LNG and LPG environments.

They are designed to operate in a variety of roles, including firefighting and cleaning up oil spills, the yard said.

“In the coming weeks, we will sign our first contract with a Greek company for two plus two [optional] tugs,” said Xenokostas.

 

 

 

“In 2026, we plan to further expand our production line with an additional 20 tugs. Our production line is secure, and the first steel will be cut in November 2025,” he said.

“Since 2018, even in the darkest times for the shipbuilding industry, we have dreamed, envisioned, planned and implemented this project.”

Onex offered companies “complete solutions” through financing packages that could include performance-based logistics models.

“Today’s agreement marks the beginning of a strong co-operation between our company and a shipyard group known for its commitment to quality, but also for its vision for a great Greek shipbuilding industry,” said Paillette Palaiologou, BV Marine & Offshore’s senior vice-president of Eastern Europe, Mediterranean Sea, Middle East, India and Africa.

“We support this vision with our full commitment, as we strongly believe in the dynamics and potential of the local shipbuilding industry.”

She said that the project for construction of “extremely versatile tugs” had national significance as well as being a “very important” one for BV and the yards.

BV holds a 27% share of the global tug classification market, said Palaiologou.

“Today, we are witnessing the rebirth of the Greek shipbuilding industry,” said Stefanos Gikas, deputy minister of Greece’s ministry of shipping and island policy.

“These tugs will serve critical national and international ports, playing a vital role in our country’s maritime strategy,” he said.

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