The rhythmic clang of hammers and the bright flashes of welding torches filled the air at Skaramangas Shipyard near Athens last month, as workers busily repaired the bow of a large tanker.
The rhythmic clang of hammers and the bright flashes of welding torches filled the air at Skaramangas Shipyard near Athens last month, as workers busily repaired the bow of a large tanker. Nearby, other vessels awaited their turn in the dry dock—an unmistakable sign of renewed activity at the once-idle shipyard.
Just a year ago, Skaramangas stood empty, a stark reminder of Greece’s prolonged debt crisis from 2009 to 2018. Following decades of inconsistent government ownership and uncertainty, the shipyard had languished. But today, it is experiencing a revival.
“Now there is life here again,” said Theodoros Evagelou, a worker sandblasting and painting ships. “For years, I struggled to find work.”
The shipyard’s resurgence follows its acquisition by shipping tycoon George Prokopiou, who bought it from the government last year. This turnaround is part of a broader recovery in Greece’s economy, which has seen the state divest bailout-era stakes in banks, as well as holdings in key infrastructure, including a major airport and highways.
Under Prime Minister Kyriakos Mitsotakis, Greece has also sold its stakes in the Elefsina and Syros Shipyards, bringing private investors back into the sector. The involvement of shipowners is proving strategic, as they now choose to
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