ONEX, Hanwha sign shipbuilding and energy cooperation deal in Washington
The signing ceremony took place in the presence of Greek Foreign Minister George Gerapetritis and U.S. Deputy Secretary of State Michael Rigas, as well as U.S. Ambassador to Greece Kimberly Guilfoyle.
Officials described the agreement as part of broader efforts to strengthen energy security and upgrade critical infrastructure in the region, presenting it as a starting point for expanded cooperation in shipbuilding and large-scale energy projects.
Gerapetritis said the partnership reflects an evolving U.S.-Greek relationship that extends beyond defense into economic diplomacy, energy, artificial intelligence and shipbuilding. He also highlighted recent discussions on the proposed Vertical Energy Corridor aimed at enhancing regional energy cooperation and reducing Europe’s reliance on Russian energy supplies.
Referring to the recently announced U.S. Maritime Action Plan, the Greek foreign minister said the initiative signals greater openness to trusted allies such as Greece and South Korea in supporting U.S. commercial and naval shipbuilding.
Ambassador Guilfoyle called the agreement a historic moment, emphasizing allied cooperation to revitalize the American shipbuilding industry. She noted that U.S.-Greece energy ties have expanded in recent years and referenced $125 million in financing from the U.S. International Development Finance Corporation (DFC) to support the privatization and modernization of Elefsis Shipyards. The shipyard is already involved in maintenance work on LNG vessels transporting U.S. energy to the region, she said.
Greek Minister of Maritime Affairs and Insular Policy Vassilis Kikilias said the partnership would facilitate know-how exchange, create new business opportunities and support economic growth.
ONEX President and CEO Panos Xenokostas described the agreement as the continuation of an effort that began in 2020, crediting support from the U.S. government and DFC for the revival of Elefsis Shipyards, which he said has transformed from an idle facility into an active industrial hub with international prospects.
Participants said the ONEX-Hanwha agreement forms part of a broader strategy linking shipbuilding, energy infrastructure and transatlantic cooperation to strengthen industrial capacity and deepen economic ties among the three countries.
