Agreement with Bahri Ship Management covers technical shipmanagement, crewing, ship building supervision and associatedactivities
Folk Maritime is looking to expand its service coverage and acquire vessels under Saudi Arabia flag
Folk Maritime Services Company, a PIF company and one of the region’s leading feeder and short-sea servicesprovider, has signed a strategic memorandum of understanding with BahriShip Management, a business unit of Bahri,
The National Shipping Companyof Saudi Arabia and a global leader in logistics and shipping, to strengthen its fleet’s capabilities.
Vision 2030 of Saudi Arabia
The agreement was signed by Poul Hestbaek, Chief Executive Officer of Folk Maritime and Eng. Khalid Alhammad, President of Bahri ShipManagement, to strengthen collaboration on technical ship management,crewing and ship building supervision, thereby contributing to the goals of Vision 2030 to build a robust logistics and maritime sector in Saudi Arabia that serves the region and beyond.
Highlighting the value of the partnership, Poul Hestbaek said:
“The agreement marks a new era of collaboration as two Saudi-based entities join hands to strengthen the Kingdom’s logistics and maritime infrastructure. Since our inception last year,
A robust feeder service network
Folk Maritime has focused on creating a robust feeder service network with a commitment to efficiency, sustainability and cost competitiveness and supporting the development of Saudi Arabia as a global logistics hub.
Bahri’s Ship Management proven expertise in ship management and crewing, will enable us to strengthen our fleet and add tremendous value to our operations as Saudi Arabia’s pioneering independent feeder and short-sea shipping operator.”
Maritime logistics capabilities
Echoing the sentiment, Eng. Khalid Alhammad added:
“Every collective step we take towards enhancing Saudi Arabia’s maritime logistics capabilities only brings us closer to realizing Vision 2030’s goal of transforming the Kingdom into a leading global logistics hub.
This partnership with Folk Maritime Bahri Ship Management is one such critical step that we, at Bahri Ship Management, are determined to make a success through our immense expertise in the sector.”
Expand its fleet
With two vessels in operation, Folk Maritime serves as a strong partner in driving feeder services along one of the world’s most pivotal shipping routes, the Red Sea. With support from Bahri Ship Management, the aim is to link Saudi Arabia to regional ports across the Middle East and North Africa.
Folk Maritime aims to further expand its fleet strength through new purchases as well as building new vessels purpose-designed for regional trade.
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 and North 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.
Neutral feeder operations
Offering the first-of-its-kind feeder and short-sea shipping 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 Beneficial Cargo Owners (BCOs) and shippers, as well as Non-Vessel Operating Common Carrier (NVOCC) services, which manage warehousing and shipments, among other functions.
About Bahri
Bahri is one of the world’s foremost shipping and logistics companies. Established as the national shipping carrier of Saudi Arabia, Bahri has played a leading role in the transformation and growth of the global shipping industry through an unrelenting focus on innovation and a commitment to delivering technology-driven, value-added onshore and offshore services.
As one of the largest providers of maritime services globally, Bahri structures its operations around five business units that include Oil, Chemicals, Logistics, Dry Bulk, Marine, and Ship
Bahri’s service
Management. Bahri’s service offering includes transportation of crude oil, oil products, chemical, bulk and general cargo, as well as ship management.
Driven by its core values and responsible business strategies, Bahri is committed to positioning Saudi Arabia as a unique regional logistics gateway to three continents and contributing to the Kingdom’s 2030 Vision by continuously expanding its services and presence across the world.
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