Folk Maritime Services Company, a PIF company and one of the region’s emerging leaders in providing regional liner and feeder services, announced today the official purchase of its second owned vessel, M/V Folk Jazan. Registered at Jeddah Islamic Port, this acquisition marks a significant leap forward in strengthening regional maritime connectivity and solidifying Saudi Arabia’s position as a global logistics powerhouse. M/V Folk Jazan has initiated operational deployment in the company's routes throughout the Red Sea and the Arabian Gulf.
"The acquisition of M/V Folk Jazan is a pivotal step in our strategic growth," said Poul Hestbaek, CEO of Folk Maritime. "This vessel not only expands our operational capabilities but also reinforces our commitment to supporting Saudi Arabia's Vision 2030 by enhancing the Kingdom's maritime infrastructure and contributing to its emergence as a global logistics hub."
"Folk Maritime's strategic acquisition of its second owned Saudi-flagged container vessel, part of an expanding fleet now totaling six ships, significantly enhances the company's operational flexibility and reduces dependency on chartered vessels. This acquisition underscores Folk Maritime's swift advancement in strengthening Saudi Arabia's maritime capabilities and supports the Kingdom’s 2030 Vision to emerge as a global logistics hub. The company’s fleet expansion, which began with the acquisition of 'Folk Jeddah' in September 2024, now operated out of Jeddah Islamic Port, further bolsters regional trade and showcases Folk Maritime’s commitment to scaling up its contributions to the regional economy," said Hestbaek.
Built in 2008 by Zhejiang Shipbuilding Co., China, Folk Jazan boasts a nominal capacity of 2015 TEU, optimizing operational flexibility and significantly expanding FOLK Maritime’s service network. Engineered to meet the rigorous demands of modern containerized shipping, the vessel achieves a critical balance between capacity and operational efficiency, ensuring seamless and reliable service.
Since the launch of its operations in April 2024, Folk Maritime has significantly advanced Saudi Arabia's maritime and logistics sectors by providing efficient regional liner and feeder services. The company is steadfast on its mission to strengthen the Kingdom’s maritime connectivity, offering reliable shipping solutions that support regional trade. Through its fleet expansion, Folk Maritime has bolstered the local supply chain, created jobs, and contributed to the nation’s ambition of becoming a global logistics hub.
