https://arab.news/bv2mb
JEDDAH: Saudi shipping firm Folk Maritime Services Co. is set to enhance regional connectivity with the purchase of its first owned vessel.
Operating under the Kingdom’s sovereign wealth fund providing regional liner and short-sea services, the firm announced that the M/V Folk Jeddah will soon commence operations at Jeddah Islamic Port.
The press release added that the acquisition of this modern Saudi-flagged container ship marks a significant advancement in the Kingdom’s capabilities.
Folk Maritime’s acquisition of its first container vessel aligns with Saudi Arabia’s National Logistics Strategy, which aims to increase the sector’s contribution to the gross domestic product from 6 percent to 10 percent by 2030.
This approach underscores the importance of enhancing port operations and strengthening regional maritime connectivity.
By investing in its own ship, Folk Maritime supports the Kingdom’s goal of positioning itself as a key logistics gateway across three continents, thereby contributing to the broader vision of elevating Saudi Arabia’s role in global trade.
Built at China’s Yangfan Shipyard in 2023, Folk Jeddah has a capacity of 1,868 twenty-foot equivalent units and measures 172 meters in length with a breadth of 27.50 meters.
It has a cargo-carrying capacity of 18,000 tonnes and is equipped with 230 reefer plugs for temperature-controlled shipments.
In July, Folk Maritime signed a memorandum of understanding with Bahri Ship Management to collaborate on technical ship direction, crewing, and the supervision of the building of crafts under the Saudi flag.
With two vessels in its fleet at that time, Folk Maritime was looking to expand its service coverage and acquire crafts that it aimed to place on the Saudi ship registry.
Folk Maritime CEO Poul Hestbaek said the agreement marked a new era of collaboration as two Saudi-based entities joined hands to strengthen the Kingdom’s logistics and maritime infrastructure.
In April, the maritime service company launched a new service connecting Jeddah to the northern Red Sea, further boosting Saudi Arabia’s maritime connectivity.
The offering links Jeddah Islamic, Yanbu Commercial, and NEOM terminals in the Kingdom to Aqaba Port in Jordan and Ain Sokhna Port in Egypt with weekly trips and a capacity of up to 1,300 standard containers.
The Saudi company takes its name from the Arabic term for traditional wooden boats, reflecting its connection to the region’s rich maritime heritage.