After nearly three decades of decline, Greece's ship repair industry is staging a remarkable comeback, creating new opportunities for vessel operators and their agents coordinating repairs in the Eastern Mediterranean. At the centre of this revival are the ONEX Group shipyards in Syros and Elefsis, which are breaking records and repositioning Greece as a serious player in the international ship repair market.
A Historic Shipyard, Reborn
The Neorion Shipyard on the island of Syros holds a unique place in Greek industrial history. Established in 1861, it was the first heavy industry facility in the Balkans and the shipyard that built the first steamship in the region. For over a century, it was a cornerstone of Greek maritime capability.
After years of decline and eventual closure around 2013, ONEX Shipyards acquired the facility in 2018 following an international evaluation process by the Greek government. A $20 million investment and comprehensive rehabilitation followed. In 2020, ONEX expanded by acquiring the Elefsis Shipyards, Greece's second-largest shipyard, creating a combined operation with significant scale.
Sources: Wikipedia, ONEX Company History, NewMoney
Record-Breaking Numbers
The results have been striking. From 2019 to early 2026, 865 ships of all types have passed through the docks of the two ONEX shipyards for repair and maintenance work. The company's target is 1,000 ships.
A new historic record was set on March 11, 2026, when 29 ships were simultaneously in the docks of both yards: 20 at Elefsis and 9 at Syros, with total capacity reaching 481,333 gross tonnage. This surpassed the previous record of 23 ships and 471,662 GT.
Sources: NewMoney, ProtoThema, March 2026
Key figures: 865 ships serviced since 2019 • Record 29 ships simultaneously (March 2026) • 481,333 GT combined capacity • Target: 1,000 ships
Facilities at a Glance
Syros (Neorion):
- Yard area: 61,078 m2 with 25,984 m2 covered build facilities
- Floating dock: 75,000 DWT, 254m LOA, 35m breadth, 25,000t lifting capacity
- 1,800 meters of piers with cranes up to 40 tons
- 2,500-ton synchro lift for vessels up to 100 meters
- Specializations: LPG/LNG conversions, afloat repairs, BWTS installation
Elefsis:
- Three floating docks: up to 120,000 DWT (276m max vessel length)
- Greece's second-largest shipyard
- Full dry docking, steel renewals, engine overhauls
The US-Greece Shipbuilding Connection
The revival of Greek shipyards has attracted strategic attention. The Greek Minister of Development and the US Secretary of the Interior recently visited the Elefsis facilities together, discussing strategic cooperation in the shipbuilding industry. This reflects broader US-Greece defence and industrial ties, with ONEX positioning itself for both commercial and naval projects.
Sources: NewMoney, March 2026
What This Means for Vessel Operators
For ship operators considering repair or maintenance options in the Eastern Mediterranean, the resurgence of Greek shipyards offers practical advantages:
- Competitive pricing compared to Western European yards
- Piraeus Anchorage serves as the natural staging area for pre and post dry dock operations, with a local agent coordinating all logistics
- Syros location in the heart of the Aegean: ideal for vessels already trading in the region
- Growing capacity means shorter waiting times, and a Piraeus-based agent can secure bookings and coordinate the full logistics chain
- Full range of services from minor afloat repairs to major conversions
Trieris Shipping Agencies coordinates dry dock and repair operations across all Greek shipyards, including ONEX facilities at Syros and Elefsis, PPA dry docks at Perama, Kynosoura Dockyard, and Skaramangas. We handle all logistics from anchorage staging through to post-repair departure. Contact agency@trieris.gr or call +30 210 422 1401.