Emboldened by its successful restart of Neorion Shipyard last year, Greek-US investor ONEX Technologies seeks to repeat the trick at ailing Hellenic Shipyards, the country’s biggest and most historic shipbuilding facility.

ONEX chief executive Panos Xenokostas is expected to submit a restructuring plan for Hellenic, with the blessings of Greece’s incoming government that won an election on 7 July with the pledge to boost investment in the debt-laden country.