Reviving Greek Shipyards: Naval Shipbuilding as a Future Business

has repaired and serviced over 500 ships across its facilities, with plans to invest $550 million to modernize these shipyards into a Mediterranean shipbuilding hub. The largest Greek shipyard, formerly known as Hellenic Shipyards , was acquired by ship magnate George Prokopiou in 2023 and renamed Skaramangas Shipyards. Once inactive for 14 years, the shipyard has already completed 37 repair orders last year and anticipates doubling its workload by 2025. As Greece embarks on a historic defense procurement program worth up to 25 billion euros, the shipyards aim to secure orders from both Greek and international clients. This includes the Greek navy's procurements, expected to total up to 7 billion euros, fostering local shipyard involvement in constructing and modernizing its fleet of frigates, corvettes, and submarines. Skaramangas Shipyards has a longstanding history in military shipbuilding and is seeking to leverage partnerships, such as with Thyssenkrupp Marine Systems for modernizing Greek naval vessels. Similarly, Salamis Shipyards near Piraeus is involved in producing parts for the French Naval Group's "Belharra" frigates, soon to be delivered to Greece. Looking forward, Onex's Xenokostas suggests that Greek shipbuilders collaborate on domestic frigate designs targeting exports, potentially establishing a core national defense manufacturing industry. This strategic move could position Greece as a significant player in the global military shipbuilding industry. Source: https://www.rnd.de/politik/griechische-werften-im-aufwind-bau-von-kriegsschiffen-soll-auftraege-bringen-K7OWZ7HYXBHPPF2SAPXTUFFWZM.html