Riyadh 22 December 2024:
Folk Maritime Services Company, a Public Investment Fund (PIF) company and emerging leader in regional liner and feeder services, has finalized a strategic agreement with Shanghai CIMC Yangshan Logistics Equipment for the order of 5,600 state-of-the-art shipping containers.
The agreement outlines the procurement of 4,500 20-foot general-purpose containers and 1,100 40-foot high-cube containers. Each unit is fully recyclable, reflecting Folk Maritime’s commitment to environmental responsibility and supporting the Kingdom’s journey toward a more sustainable future.
The containers are equipped with advanced technologies, including the latest IoT monitoring technology, which Folk Maritime plans to fit fleet wide to its dry boxes. The integration of cutting-edge technology solutions will transform operational efficiency and security by providing real-time location updates, enabling precision route optimization across trade corridors and reducing delays. Geofencing and tamper detection prevents unauthorized access while ensuring cargo integrity.
Folk Maritime CEO, Poul Hestbaek, emphasized the significance of the acquisition, saying, “This investment is an important milestone for Folk Maritime as we expand our container fleet and solidify our position as a key player in Saudi Arabia’s logistics infrastructure. The first owned containers, branded by Folk Maritime will enable us to better service the trade and directly support exporters and importers in the region. With this fleet, we are giving cargo owners real time visibility and enhancing operational efficiency. By offering our own containers to meet the needs of our clients, we not only provide end-to-end shipment solutions but also build direct relationships with cargo owners in the region. Our efforts are moving Saudi Arabia closer to becoming a world-leading logistics hub, aligning with the nation’s Vision 2030.”
Mohammed Badawi, COO of Folk Maritime added, “This bold step reflects our strategic vision and commitment to growth. By investing in a modern, state-of-the-art container fleet, we are enhancing our operational capabilities as well as, reinforcing our ability to deliver efficient, sustainable, and innovative solutions to our clients. These advanced containers, equipped with cutting-edge technology, will ensure greater supply chain feasibility, optimization, and reliability, aligning perfectly with our goal of driving regional trade. This milestone marks a major leap forward as we solidify our position as a growing regional leader in maritime logistics.”
Each container is designed to meet the rigorous demands of international shipping, optimizing cargo capacity and facilitating efficient transport. Featuring durable bamboo-wood flooring for extended lifespan, the fleet is custom-branded with Folk Maritime’s logo. Furthermore, every unit undergoes inspection and certification by globally recognized classification societies to guarantee adherence to the highest standards of quality and reliability.
The containers will serve to strengthen key trade routes, including bilateral corridors with India and other global markets, fostering smoother and more efficient export-import operations. To ensure operational readiness and facilitate a seamless integration into Folk Maritime’s expanding operations, the containers will be delivered in batches, over the coming months.
The containers will be strategically deployed across critical trade corridors, amplifying Folk Maritime’s ability to meet the growing demands of international commerce while contributing to the Kingdom’s vision of becoming a premier logistics hub.
For more information about Folk Maritime, please visit https://folkmaritime.com
ENDS
About Folk Maritime
Folk Maritime Services Company, a Public Investment Fund company, was established in 2023, with the mission to connect regional ports seamlessly, and catalyse trade across the Middle East, Indian Subcontinent and East Africa.
Its strategic goal is aligned with Saudi Arabia’s vision to become a global logistics hub, underlining the Kingdom’s premier position in leading multiple high-growth industrial sectors.
Offering regional liner and feeder services, Folk Maritime is creating new trade lanes and delivering end-to-end shipping solutions, connecting key transshipment routes in the Arabian Gulf, Red Sea, and beyond, by delivering cost-effective and efficient logistics services that will drive transformational trade growth.
Through neutral feeder operations, the company seamlessly links smaller ports to larger hubs, while also offering end-to-end shipping solutions for cargo owners.
