MEGA DEAL ONEX–HANWHA: Trilateral Power Move Reshapes Shipbuilding & Energy

A high-stakes agreement with clear geopolitical weight was signed at the U.S. Department of Transportation: ONEX Shipyards & Technologies and Hanwha Power Systems are launching a strategic partnership that goes far beyond traditional shipbuilding.

The ceremony took place in the presence of Greek Foreign Minister Γιώργος Γεραπετρίτης and U.S. Deputy Secretary of State Michael Rigas, signaling what officials described as a historic shift in trilateral convergence between Greece, the United States, and South Korea.

A Western Industrial Reset

At its core, the agreement supports the revitalization of shipbuilding and energy infrastructure, focusing on:

• LNG carrier construction and maintenance
• Large-scale energy projects
• Integration of shipbuilding, AI, and security
• Strengthening the Vertical Energy Corridor

Greek officials framed the deal as part of Europe’s broader strategy to reduce dependence on Russian natural gas while reinforcing trusted supply chains among allied nations.

The message is unmistakable: trusted allies are being invited to help rebuild America’s industrial base.

Elefsina: From Crisis Symbol to Strategic Hub

A pivotal element of the agreement centers on the revival of the Elefsina Shipyards.

U.S. Ambassador to Greece Kimberly Guilfoyle called the signing a “historic moment,” highlighting the $125 million financial backing from the U.S. International Development Finance Corporation that supported the shipyard’s privatization and modernization.

Today, Elefsina:

• Services LNG vessels transporting American energy
• Aligns with U.S. plans to rebuild commercial and naval shipbuilding capacity
• Operates as a growing industrial and energy node in the Eastern Mediterranean

ONEX Chairman and CEO Panos Xenokostas described the deal as the continuation of a turnaround that began in 2020, when the yard was inactive and workers unpaid. It now stands as an active industrial platform with global prospects.

LNG, Industrial Policy & Strategic Alignment

Greek Development Minister Τάκης Θεοδωρικάκος linked the partnership to broader efforts to strengthen allied supply chains and LNG vessel production, aligning it with the industrial revival vision advanced by U.S. President Donald Trump.

Shipping Minister Βασίλης Κικίλιας drew a historical parallel to the transformative role of the Liberty ships after World War II, which helped propel the rise of Greek shipping.

The Bigger Picture: Energy, Defense, Industry

The ONEX–Hanwha agreement is not merely commercial. It reflects a broader strategic architecture:

• Linking shipbuilding with energy infrastructure
• Protecting supply chains from geopolitical leverage
• Deepening transatlantic industrial cooperation
• Elevating Greece’s role as a European energy hub

At a time when energy and maritime logistics are increasingly weaponized in global politics, this trilateral partnership aims to transform the Eastern Mediterranean from a transit zone into a production and power center.

Elefsina is no longer a symbol of decline — it is becoming a symbol of industrial return.

Source: pagenews.gr