Ryadh: The Kingdom of Saudi Arabia (KSA) has launched a new shipping route connecting Jeddah Islamic Port on the Red Sea with the ports of Mundra and Nhava Sheva in India.
Starting in September, this new ten-day service, operated by Folk Maritime Services, a subsidiary of the Kingdom’s Public Investment Fund (PIF).
The service will strengthen trade ties by facilitating the movement of consumer cargo from India, and products from the Kingdom, including petrochemicals. It will see the deployment of an 1,800 TEU vessel from Folk Maritime
In addition to deploying its vessel, Folk Maritime has also signed a Vessel Sharing Agreement (VSA) with Oman’s Asayd, which will also deploy a vessel for the new route.
According to a company statement, the new route represents the growth in ‘friend-sourcing’ between Saudi Arabia and India and builds on the strong bilateral ties between the two countries.
Poul Hestbaek, CEO of Folk Maritime, highlighted that this new service will further enhance bilateral trade between the Kingdom of Saudi Arabia and India.
“It will also contribute to the goals of Saudi Vision 2030 to establish the Kingdom as a global logistics hub by enhancing connectivity and maritime sector growth,” he added.
Folk Maritime’s Chief Commercial Officer, Saleem Kadernani, lauds the new service as an exciting development, offering sustainable solutions for both new and existing customers.
