Folk Maritime Launches GCC-India Shipping Route

10/31/2024 7:20:01 PM

(MENAFN- Kuwait News Agency (KUNA)) RIYADH, Oct 31 (KUNA) -- Folk Marine Services Co. (Folk Maritime) - an affiliate of the Saudi sovereign Public investment Fund (PIF), launched on Thursday the new regional shipping route "India-Arabian Gulf Service," connected key ports of both sides.
The shipping route links Saudi Arabia's Dammam and Umm Qasr in southern Iraq, with India's two major commercial ports of Nhava Sheva and Mundra, the Saudi Press Agency reported, citing a Folk statement.
The new service will begin October 30, departing from Dammam with the vessel "Asterius," which has a capacity of 1,827 twenty-foot equivalent units (TEUs.
The service will shift to a weekly schedule by December, transporting imports from India to Umm Qasr.
The route aims to strengthen trade ties with India; facilitate the flow of consumer goods, petrochemicals, and essential commodities; and support the expanding strategic partnership between Saudi Arabia and India, according to the report.
The service also promotes regional and international market connectivity, with a focus on Asian, African, and European trade routes.
Dammam Port, one of the top 10 ports in the Middle East with an annual throughput of 2.7 million TEUs, plays a crucial role in both regional and global supply chains.
SPA quoted Folk Maritime's CEO Poul Hestbaek as saying that the new route addresses critical gaps in logistics and supports the company's mission of connecting major ports, industries, and shipping lines worldwide.
The route aligns with the goals of the Kingdom's Vision 2030 to position Saudi Arabia as a global logistics hub, enhancing Dammam's strategic role as a major logistics center.
The milestone also marks Folk Maritime as the first Saudi company to offer this service, he added. (end)
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