Saudi Arabia’s Folk Maritime Acquires First Feeder Vessel

Acquisition expected to enhance Saudi Arabia's role in global shipping

The Kingdom of Saudi Arabia’s Folk Maritime Services Company has marked a significant milestone with the acquisition of its first feeder vessel, the Folk Jeddah. This modern 1,868 TEU container ship, built in 2023 at Yangfan Shipyard in China, will not only enhance the Saudi Arabia’s shipping capabilities but also reinforce its leadership position within the International Maritime Organization (IMO).

Registered at Jeddah Islamic Port, the Folk Jeddah will fly the Saudi flag, aligning with Folk Maritime’s commitment to national registration for its fleet. As noted by Folk Maritime CEO, Poul Hestbaek: “the acquisition of this modern Saudi-flagged vessel represents a transformative step in our maritime capabilities, enhancing regional trade and reinforcing Saudi Arabia’s strategic role in global logistics”.

The Folk Jeddah is intended to improve maritime connectivity in the region; it will soon begin operations from Jeddah, linking key destinations such as Port Sudan, Yanbu, Neom, Aqaba, and Ain Sokhna. This expansion aims to create a commercial network that supports the flow of goods across the Red Sea and Arabian Gulf, enhancing trade and regional economic development.

As Saudi Arabia's first independent feeder and short-sea shipping operator, Folk Maritime has put operational efficiency and competitiveness in the region’s shipping sector at the centre of its value proposition. The company’s commitment to sustainability and cost-effectiveness is also intended to help attract mainline shippers and support the company’s alignment with global maritime standards advocated by the IMO.

This acquisition is part of Saudi Arabia’s broader National Transport and Logistics Strategy, which aims to elevate the logistics sector's contribution to the national GDP from 6% to 10% by 2030. By fostering a more efficient shipping sector, Folk Maritime will significantly contribute to achieving these goals while enhancing the Kingdom’s compliance with IMO regulations and standards.

As a subsidiary of the Public Investment Fund (PIF), which holds a notable stake in the National Shipping Company of Saudi Arabia (Bahri), Folk Maritime is well-positioned to leverage investments and resources to expand its service offerings. Furthermore, the company's strategic location at the crossroads of global maritime trade naturally positions it to tap into international markets effectively.

The vessel’s advanced design and sustainability features reflect the company’s commitment to modernizing its fleet and enhancing operational standards. This initiative will streamline supply chains, create jobs, and support local businesses.

As Folk Maritime continues to grow, its success will contribute to the Kingdom’s maritime capabilities and its aspirations to lead in global shipping governance. Saudi Arabia's proactive investment in maritime infrastructure, with vessels such as the Folk Jeddah, therefore, signals a new era of growth and development in the Saudi shipping industry.