ONEX Elefsis Shipyards and Bureau Veritas Marine & Offshore sign agreement for the construction of 20 newbuilding tugs
Piraeus, June 25, 2025
On June 23, 2025, the signing ceremony of the agreement between ONEX Elefsis Shipyards and the classification society Bureau Veritas Marine & Offshore (BV) took place at the historic Sailing Club of Greece in Piraeus, one of the most emblematic places in the Greek shipping sector. The event was attended by Deputy Minister of Shipping and Island Policy, Mr. Gikas, the Secretary General for Fisheries and Ports, the Secretary General for Research and Development, as well as prominent representatives of the Greek shipping community and the maritime press.
The agreement concerns the construction of 20 newbuilding tugboats of the RAstar 2800 Tugboat type at ONEX’s shipyards in Elefsina, marking the official revival of newbuilding activity in Greece. The agreement was signed by Mr. Panos Xenokostas, President and CEO of ONEX Group and President of the Union of Greek Shipyards, and Ms. Paillette Palaiologou, Senior Vice President of Bureau Veritas Marine & Offshore Division, East Europe, Mediterranean Sea, Middle East, Africa, and India (EMA).
Mr. Xenokostas stressed the importance of this historic step for the Greek shipbuilding industry: “Since 2018, even in the darkest times for the shipbuilding industry, we have dreamed, envisioned, planned, and implemented this project.
Today, we can see the shipyards in operation, providing thousands of direct and indirect jobs, and over 720 vessels have been repaired in Syros and Elefsina.”
Referring to the strategic decision to start with tugs for newbuildings, he pointed out: “We decided to start with tugs because they represent a controlled, manageable investment. This enabled us to achieve our goals for preparing the yard, partnering with major industries, and collaborating with leading companies such as Robert Allan Naval Architects, MAN Energy Solutions SE and SCHOTTEL GmbH to design a state-of-the-art tugboat.”
The tugs will feature the latest generation of engines and will be adaptable to LNG and LPG environments. They will also be able to operate with versatility in a variety of roles, including firefighting and cleaning up oil spills.
Mr. Xenokostas also announced that “In the coming weeks, we will sign our first contract with a Greek company for 2 + 2 tugs. 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. We also offer companies in Greece and abroad complete solutions through financing packages such as the Performance Based Logistics model.”
In closing his address, Mr. Xenokostas thanked all customers, Greek shipowners, employees, and executives for their trust, as well as the Greek government for their practical and continuous support since 2019. He stated: “The revival of the shipyards is not the work of one or two people. It is a game that, in order to win, we must play as a team. Our vision for a strong Greek shipbuilding industry is becoming a reality today.”
Ms. Paillette Palaiologou, Senior Vice President of Eastern Europe, Mediterranean Sea, Middle East, India and Africa (EMA), Bureau Veritas Marine & Offshore, spoke about BV’s deep connection with the Greek shipping industry, a beacon for the whole world, stressing the historical importance of the agreement:
“We have seen ships being built and sailing, becoming part of world history with the seal of safety
and completeness from our organization. Our commitment to Greek shipping and local maritime activity goes beyond a business relationship. It is a deep emotional bond based on mutual trust and a shared vision for progress and development. We are here today to celebrate the reawakening of shipbuilding in our country.
Shipbuilding is integrally linked to our identity and has always nurtured our nation’s love for the sea.”
She highlighted the strategic importance of the project: “The construction of 20 newbuild RAstar 2800 tugboats is a very important project for the shipyards, BV, Greece, and the global tugboat industry,” she said, underlining that BV holds a 27% share of the global tugboat classification market.
Referring to the technical characteristics of the tugboats, she pointed out: ‘This new fleet of tugs will be extremely versatile. It will be equipped with high-level propulsion systems, allowing it to operate as an escort tug. They will also have firefighting capabilities and equipment for oil recovery operations in the event of pollution.’
“Today’s agreement also marks the beginning of a strong cooperation 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 Ms Paleologou, underlining that “We support this vision with our full commitment, as we strongly believe in the dynamics and potential of the local shipbuilding industry.”
Speaking on behalf of the Ministry of Shipping and Island Policy, Deputy Minister Mr. Gikas described the day as a historic one for the Greek shipbuilding industry.
“Today, we are witnessing the rebirth of the Greek shipbuilding industry. This was an objective established by our Prime Minister, Kyriakos Mitsotakis, from the moment our government was elected in 2019.” He emphasized the dual importance of tugs: ” These tugboats will serve critical national and international ports, playing a vital role in our country’s maritime strategy.” In closing, the Deputy Minister, as a Naval Officer himself, said: “It is in our DNA to build ships; we are a country with a long naval tradition. I am very optimistic that, with the regeneration of our shipyards, we will soon see both our warships and those of the Coast Guard being built by Greek hands.”
Finally, Mr. Tasos Gaitanis, Secretary General for Research and Innovation of the Ministry of Development, referred to the government’s interest in the domestic shipbuilding industry, which offers significant economic potential and new jobs, explaining that: “At the Ministry of Development, our desire and priority is to strengthen the economy through applied research and innovative products and services, including the maritime sector and maritime technology, which are important areas linked to our rich maritime tradition.”
Today’s signature marks a significant milestone for the Greek shipping and shipbuilding industries and demonstrates the commitment of all stakeholders to reviving and developing domestic shipbuilding activity.
