Finance
Hanwha and Greek ΟΝΕΧ Shipyards to expand activities in the US
Published by Global Banking & Finance Review®
Posted on February 26, 2026
2 min readLast updated: February 26, 2026
Quick Summary
ONEX and Hanwha Power Systems inked a cooperation deal to expand U.S. shipbuilding and energy projects, including LNG regasification and storage, aiming to bolster critical infrastructure. (greeknewsusa.com)
Hanwha, Greece’s ONEX Shipyards to Expand Operations Across the U.S.
Hanwha–ONEX U.S. Expansion Overview
ATHENS, Feb 26 - Greek ΟΝΕΧ Shipyards and Technology said on Thursday it signed an agreement with South Korean Hanwha Power Systems to expand their joint activities in the United States in shipbuilding, energy production and regasification units.
Energy Storage Platforms
Power Generation and Efficiency
Scope of the Agreement
ONEX, which operates two shipyards in Greece, said in a press release that the deal also includes projects in power generation, shipyard efficiency, and energy storage platforms.
Goals for U.S. Maritime Energy
"Hanwha and ONEX are joining forces to help bring maritime energy production back to the United States and to accelerate the development of critical energy infrastructure," said Panos Xenokostas, ONEX CEO, in a press release.
Policy Context: U.S.–Korea Support
The Trump administration said last year that the U.S. would work with South Korea to help the struggling U.S. shipbuilding industry and get support to make ships in the country.
Greece’s LNG and Energy Hub Role
The U.S. also supports Greece's efforts to become an energy hub in the Balkans and supply central and southern Europe with U.S.-produced liquefied natural gas (LNG).
(Reporting by Lefteris Papadimas, Editing by Alexandra Hudson)
Key Takeaways
- •ONEX Shipyards & Technologies signed a cooperation agreement with Hanwha Power Systems to expand activities in the United States across shipbuilding and energy. (greeknewsusa.com)
- •The pact covers projects in power generation, LNG regasification, energy storage platforms, and shipyard efficiency. (newmoney.gr)
- •The partners aim to help bring maritime energy production back to the U.S. and accelerate critical infrastructure development. (greeknewsusa.com)
- •ONEX operates the Syros and Elefsina shipyards in Greece, with Elefsina modernization backed by a $125 million DFC loan. (dfc.gov)
- •The move aligns with broader U.S.–Korea shipbuilding cooperation and Hanwha’s growing American footprint, including investments tied to Philly Shipyard. (hanwha.com)
Frequently Asked Questions about Hanwha and Greek ΟΝΕΧ Shipyards to expand activities in the US
1What is the main topic?
A new ONEX–Hanwha cooperation agreement to expand U.S. shipbuilding and energy activities, including LNG regasification, storage, and shipyard efficiency projects. (greeknewsusa.com)
2Which companies are involved and where was it signed?
ONEX Shipyards & Technologies and Hanwha Power Systems signed the agreement in Washington, D.C., with senior U.S. and Greek officials present. (greeknewsusa.com)
3Why is this significant for energy and shipbuilding?
It supports U.S. maritime energy production and infrastructure while leveraging ONEX’s Greek shipyards—modernized with DFC support—to service LNG and related projects. (dfc.gov)
