Greek shipyard signs deal with MAN for tug newbuilding engines

Onex operates two of Greece’s largest shipyards: one in Elefsina, Attica and another on the island of Syros. During the last Posidonia exhibition, Onex signed a deal with Canada’s Robert Allan Ltd, securing the rights to construct tugs based on Robert Allan’s RAstar 2800 design.

Under the new agreement with MAN Energy Solutions, Onex will acquire 40 propulsion engines. Each set will include two MAN 16V175D-MM engines, capable of delivering 2,560 kW at 1,800 rpm. The company plans to build up to 40 tugs over the next five years, valuing the production line at approximately €380M (US$391M).

“Tugs built by Onex will provide key solutions for upgrading Greece’s ports and enhancing the infrastructure services offered to both domestic and international clients,” said Onex Shipyards and Technologies president and chief executive Panos Xenokostas.

MAN Energy Solutions Greece managing director Dionissis Christodoulopoulos remarked, “Since 2018, MAN has recognised Onex’s growing potential not only in repair work but also in the shipbuilding activities of Greek shipyards.”

Driving Greek shipbuilding’s revival

Onex, along with prominent Greek shipowner George Prokopiou – who took ownership of the Skaramangas Shipyard – has been at the forefront of revitalising Greece’s shipbuilding sector. Both yards have re-entered the market with a focus primarily on repair services.

At a recent industry summit, Mr Xenokostas highlighted Elefsis Shipyard’s accomplishments, noting it has serviced approximately 125 vessels in the 18 months since restarting operations.

The Elefsis facility is also targeting newbuild vessels. Its key objectives include building tugs, specialised ships, floating generators for offshore windfarms and performing construction and maintenance work for the Hellenic Navy.

In a noteworthy development, Onex has signed a co-operation agreement with Greece’s largest ferry operator, Attica Group, to support the ’green’ upgrade of its fleet.