Stylianides: Greece in negotiations with European Commission on ‘green’ transition in shipping

The 1 billion euros MoU was signed by ONEX Group's CEO Panos Xenokostas and Attica Group's CEO Kyriakos Mageiras at the Development Ministry.

The recent 1-bln euro Memorandum of Understanding (MOU) signed between ONEX SA and ATTICA GROUP creates a new situation in the shipping market with executives characterising ‘historic’ the specific agreement as it may lead, in the near future, to the building of new vessels while it will also give the incentive to other companies to do the same. The ten-year MOU with the possibility to be extended provides the exclusive execution of upgrading, maintenance and repair works and energy conversion of the existing vessels of Attica Group as well as the building of new ships aiming at the green transition, at the shipyards of ONEX Group in Elefsina and on the island of Syros. The Memorandum of Cooperation (MoU) was signed on December 15, 2023 between Attica Group and ONEX Group concerning the green transition of Attica Group’s ferry fleet and potential contributions by ONEX’s subsidiary companies at the Elefsina and Syros island shipyards, among other.

The 1 billion euros MoU was signed by ONEX Group’s CEO Panos Xenokostas and Attica Group’s CEO Kyriakos Mageiras at the Development Ministry. It foresees: – The maintenance and all repair works of Attica Group’s fleet of 45 ships, as well as any ships acquired or under its management during cooperation with ONEX – The upgrade and energy conversions of Attica Group’s fleet in view of the ships’ green transition, and the improvement of their environmental footprint in accordance with the new environmental requirements of European and international legislations -The potential building and/or constructing of new ships at ONEX Group’s facilities, should Attica Group so decides On his part, Shipping Minister Christos Stylianides in recent statements to the press, revealed that the country is already in deliberations with the European Commission on the issue of ‘green’ transition in the shipping sector as an 80- mln euro fund that may reach up to 500 million euros from NSRF has been already ‘locked’ on how we will build ‘green’ ships. “We have such a discussion with the European Commission and is a tough negotiation as some requirements may not correspond to the Greek shipping culture” he said adding that “the deliberation is in progress and we do not want to let this opportunity slip away”.