Posidonia 2024 Marks the Rebirth of Greek Shipbuilding Industry

Greece’s revitalised shipbuilding industry will be prominently represented during the prestigious Posidonia 2024 shipping exhibition in Athens this June, signaling a strong recovery following decades of decline and disrepair.

According to the expo’s organizer, Posidonia Exhibitions SA, the sector’s Greek renaissance is on the cards after the completion of the consolidation of the country’s shipbuilding units in Syros and in Elefsina, and also due to the restart of Skaramangas shipyard and the increased activity in Halkida.

Neorion Shipyard in Syros and Elefsis Shipyard have repaired over 500 ships, foreign and Greek-owned, since the New York-based ONEX Shipyards and Technologies group took over their operations in 2019. Combined with further domestic output from other ship repair and shipbuilding operations, Greece is now seen as an important contributor to European shipyards’ annual production value of around 43 billion euros, which comprises a collective civil and naval orderbook value that surpasses that of their Asian counterparts.

“Greece is resurfacing as a credible shipbuilding cluster for vessel repair, conversion and potentially for the construction of newbuildings for Greek and international shipowners and naval forces,” said Posidonia Exhibitions SA Managing Director Theodore Vokos.

“This revival follows decades of underperformance and underinvestment, marked by the absence of a strategic vision,” he added.

Through a slate of strategic partnerships and multimillion investments, Greek shipyard operators and the Greek government are making a statement of their long-term commitment to a sector estimated to currently account for 1 percent of the nation’s GDP. The sector’s revival will further strengthen both the country’s economy and security. Partnerships will amongst others include naval projects, as the Greek government discusses with the US the joint design and co-production of the new generation of Constellation frigates, while increased activity in the shipyards will empower and support Greek maritime equipment manufacturers, further enhancing Greece’s contribution to Europe’s 50 percent market share and global dominance in marine equipment manufacture and supply.

In general, Greek shipyards are investing in areas designed to improve their competitiveness and attractiveness, mainly to Greek shipowners who currently contribute 80 percent of Greek ship repair and new build activity.

Over 85 shipyards from 26 countries have already confirmed their participation in Posidonia 2024, which will take place during June 3-7 at the Athens Metropolitan Expo Center.

Posidonia 2024 is organised under the auspices of the Ministry of Maritime Affairs & Insular Policy, the Hellenic Chamber of Shipping and the Union of Greek Shipowners and with the support of the Municipality of Piraeus and the Greek Shipping Co-operation Committee.