PIF's Folk Maritime purchases 1st container vessel

One of Folk Maritime’s vessels

Folk Maritime Services Co., a subsidiary of the Public Investment Fund (PIF), announced the purchase of its first owned vessel, M/V Folk Jeddah, which will be registered at Jeddah Islamic Port and is intended to strengthen regional maritime connectivity.

The acquisition of its first modern Saudi-flagged container vessel by Folk Maritime marks a transformative step in Saudi Arabia's maritime capabilities, contributing to enhanced regional trade and underlining the Kingdom's ambition to become a global logistics hub, the company said in a statement. 

The vessel will further enhance regional connectivity and supply chains, while creating jobs and supporting businesses. The 1,868-twenty-foot-equivalent-unit (TEU) container ship will enter service shortly at Jeddah Islamic Port. 

Folk Maritime is the first Saudi company specialized in container and feeder shipping, rendering feeder vessels and short-distance shipping services in the Gulf, the Red Sea and beyond.