International Exhibition “DEFEA 2025”: ONEX Group is a pioneer with vision and technological superiority
Elefsina, May 16, 2025
In a modest yet symbolic ceremony, ONEX Shipyards & Technologies Group celebrated a significant milestone for the Greek shipbuilding industry: the completion of repairs on the 700th vessel at the Group’s shipyards — the ship Neptune Odyssey of Neptune Lines Shipping & Managing Enterprises.
It was a great honor for ONEX Group to welcome Ms. Melina Travlos, President of Neptune Group of Companies and President of the Union of Greek Shipowners, who placed her trust in Greek shipyards.
The commemorative ceremony took place on Wednesday, May 14, within the Elefsina shipyard grounds, with the 700th vessel as the backdrop. In attendance were Minister of Development Mr. Takis Theodorikakos, Minister of Shipping and Island Policy Mr. Vassilis Kikilias, Deputy Minister to the Prime Minister Mr. Georgios Mylonakis, Deputy Minister of Development Mr. Lazaros Tsavdaridis, Deputy Minister of National Economy and Finance Mr. Georgios Kotsiras, Vice President of the Hellenic Parliament Mr. Athanasios Bouras, members of Parliament, the Mayor of Elefsina, as well as representatives from the state, the shipping community, institutional bodies, ONEX and Neptune Group executives, and of course, the shipyard workers who support the operation daily.
Panos Xenokostas: “We rowed together.
And we keep going — with faith, planning, and hard work.”
ONEX Group President and CEO, and Chairman of the Hellenic Shipyards Association, Mr. Panos Xenokostas, offered a review of the successful revival of the Greek shipbuilding industry. Mr. Xenokostas emphasized the honor of taking over the shipyards under difficult circumstances in 2018–2019 and ONEX’s determination to keep its commitments to Syros and Elefsina.
His speech focused on the critical importance of public-private sector collaboration, as well as the trust demonstrated by the Greek and U.S. governments in the initiative. Mr. Xenokostas highlighted the groundbreaking event of ONEX receiving financing from the U.S. government bank, reflecting the recognition of the Group’s vision and credibility. He also stressed ONEX’s social and corporate responsibility, being the first to repay the debts of previous administrations — a testament to the company’s commitment to a genuine revival of shipbuilding, with workers at the center.
In closing, Mr. Xenokostas presented ONEX’s ambitious strategic plan for Elefsina to evolve into a key hub for maritime support, energy transition, security, and the supply chain. He announced the start of orders for critical equipment for the production of tugboats, the construction of ferry boats and defense vessels, and the implementation of an extensive modernization program. Inspired by the global leadership of Greek shipping, he expressed ONEX’s ambition to make up for lost time and become a national leader, thanking all those who have contributed and continue to support the initiative.
Takis Theodorikakos: “‘Made in Greece’ in the shipbuilding industry is a national wager — and we can win it”
Minister of Development Mr. Takis Theodorikakos, in his address, emphasized the importance of this endeavor as a cornerstone of the country’s new production model. He underlined the government’s commitment to turning “Made in Greece” in ship repair into a national success story, worthy of the global reputation of Greek shipping. He referred to the legislative initiative of the Ministry of Development that laid the foundation for the shipyards’ financing through the DFC, calling the investment in Elefsina and Syros a national wager with a significant developmental footprint and thousands of job creations.
Mr. Theodorikakos highlighted the inclusion of the shipbuilding industry in the new Development Law as a strategic sector of growth and national security, signaling the return of the “blue economy” to the forefront. He praised the presence of the President of the Union of Greek Shipowners, Ms. Melina Travlos, as a sign of trust from Greek shipping in ONEX’s investment, expressing hope for a long and successful journey for Greek shipyards.
Finally, the Minister stressed that Greece, as a global maritime power, must have a strong shipbuilding industry capable of generating know-how and supporting the domestic value chain. He pointed out that ONEX’s work creates jobs, produces expertise, and contributes to the real economy — serving as a model for the reconstruction of Greek industry. The government’s goal is to establish Greece as a shipbuilding hub in the broader Southeastern Mediterranean, leveraging the multiplier benefits of Greek shipping.
Vassilis Kikilias: “Support for Greek Shipping and the Promotion of Domestic Shipbuilding”
Minister of Shipping and Island Policy Mr. Vassilis Kikilias warmly congratulated Ms. Melina Travlos, President of the Neptune Group of Companies and the Union of Greek Shipowners, and Mr. Panos Xenokostas, President and CEO of ONEX Group, on the milestone of the 700th vessel. He wished that this partnership would continue and expand — both in repair projects and eventually in new ship constructions. He stated that modernizing technical methods, such as moving from sandblasting to hydroblasting, and prioritizing environmental care and safety, are key government priorities across the maritime sector.
He also assured that the Ministry of Shipping and Island Policy is expediting all procurement processes for the Hellenic Coast Guard for vessels, equipment, and technology — and within the legal framework, will aim to have these constructions take place in Greece, under Greek ownership.
Finally, the Minister emphasized that the 5,800 Greek-owned vessels — accounting for 21% of the global fleet — bring added value and a significant competitive advantage to Greek shipping and to the country.
Melina Travlos: “Today, as a person of the sea, I am a very proud Greek woman”
Ms. Melina Travlos, President of Neptune Group of Companies and President of the Union of Greek Shipowners, expressed her emotion and pride in the revival of the domestic shipbuilding and ship repair industry, stressing the importance of this achievement for Greece. She congratulated Mr. Panos Xenokostas for ONEX’s vision and accomplishments, recognizing the strategic importance of the group for the country’s maritime and production chain. The repair of the Neptune Odyssey at ONEX shipyards affirms the excellent collaboration between Neptune Group and ONEX.
Ms. Travlos expressed her satisfaction with the dynamic revival of the ship repair industry, linking Greek shipping to the country’s historical maritime tradition and technical expertise. She underscored the importance of supporting Greek entrepreneurship and stressed the critical need for maintaining quality, reliability, consistency, and above all, competitiveness.
Referring to the Neptune Odyssey, which sails under the Greek flag, the President spoke of the need to support the Greek shipping registry, so that it becomes not only a national but also a business-attractive choice.
The event concluded with Mr. Panos Xenokostas presenting a commemorative gift to Ms. Melina Travlos as a token of appreciation for her trust in the ONEX Group shipyards, followed by a tour of the facilities where the Neptune Odyssey is undergoing repair.
“Neptune Odyssey” Marks a Milestone in the Revival of the Greek Shipbuilding Industry
The Neptune Odyssey is the fourth vessel of the Neptune Group to be repaired at ONEX facilities, reaffirming the trust of Greek shipping in domestic shipbuilding expertise.
The repair of the 700th vessel at ONEX Group’s shipyards represents not only a major achievement but also confirms Greece’s ability to produce, repair, and export value. This milestone validates the consistent trajectory of ONEX shipyards as one of the most reliable pillars of the Greek shipbuilding and repair industry.
