Folk Maritime acquires 2nd container ship, Folk Jazan joins fleet

Folk Maritime Services Co., a subsidiary of the Public Investment Fund (PIF), acquired its second-owned container ship, named Folk Jazan. The vessel commenced operations, serving the company’s shipping routes across the Red Sea and the Arabian Gulf.

Registering the ship at Jeddah Islamic Port marked a significant step toward strengthening regional maritime connectivity and solidifying Saudi Arabia’s position as a global logistics hub.

Poul Hestbæk, CEO of Folk Maritime, stated that the acquisition of Folk Jazan, which sails under the Saudi flag and is part of a growing fleet of six vessels, represents a pivotal move in the company’s strategic growth. It enhances the company’s operational flexibility and reduces reliance on chartered ships.

He emphasized that this strategic investment reflects the company’s commitment to advancing Saudi Arabia’s maritime capabilities and directly supports the goals of Saudi Vision 2030 to establish the Kingdom as a global logistics center.

The CEO noted that the company’s fleet expansion began with the acquisition of Folk Jeddah in September 2024, which sails from Jeddah Islamic Port. This expansion boosts regional trade and highlights the company’s dedication to strengthening its contribution to the regional economy.

Folk Jazan, built in 2008 by Zhejiang Shipbuilding Co. Ltd. in China, has a capacity of 2,015 TEUs. The vessel brings substantial operational flexibility and significantly expands Folk Maritime’s service network.

It is designed to meet diverse container shipping demands while striking a crucial balance between capacity and operational efficiency, ensuring smooth and reliable services.