ONEX Shipyards & Technologies is positioning the Elefsis Shipyards as a strategic alternative to COSCO’s Port of Piraeus, unveiling a new investment phase that will turn Elefsis into a modern LNG and energy support hub with advanced shipbuilding, logistics, and storage infrastructure.
Speaking at the 6th Partnership for Transatlantic Energy Cooperation (P-TEC) in Athens, ONEX President Panos Xenokostas said the restructuring of Elefsis “proceeded with coordinated actions by the government,” allowing the shipyards to return to sustainable operations.
Moreover, Xenokostas revealed that ONEX’s new investment phase includes transforming Elefsis into a fully integrated maritime and energy complex. “Greece can be an alternative corridor for the transport of goods and energy from Attica to the Balkans and the Eastern Mediterranean,” he said, highlighting that such developments are crucial for European energy autonomy.
The Elefsis project is widely seen as a rival to COSCO’s dominant position in the Port of Piraeus, offering an alternative gateway for shipbuilding, logistics, and energy operations in Greece.
Additionally, Xenokostas emphasized that new technologies such as Small Modular Reactors (SMRs) and Floating Nuclear Power Plants (FNPPs) “will be the pillars of tomorrow’s shipping and energy,” underscoring ONEX’s focus on innovation and sustainability.
He further stressed that collaboration with international partners “creates solid foundations for a strong, technologically advanced, and energy-autonomous country.”
At the same event, Maritime Affairs and Insular Policy Minister Vassilis Kikilias announced ongoing discussions with U.S. officials to attract strategic American investments into Greek ports and shipyards. “The prime minister has ordered the beginning of talks with our American counterparts on how to boost shipyards and ports both here and in the United States, in order to link them,” he said.
Kikilias added that Greece, which controls nearly 20% of the global merchant fleet, is a key factor in global trade and energy supply chains. The talks include potential cooperation on shipyard modernization, port infrastructure, and workforce development.
Through this investment and international collaboration, ONEX is positioning Elefsis as a credible alternative to COSCO’s Piraeus operations, offering Greece a second maritime powerhouse that strengthens national sovereignty, supports industrial renewal, and advances European energy resilience.
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