Folk Maritime Services Company, a PIF company and one of the regionโs leading feederย and short-seaย servicesย providers, has signed a strategic memorandum of understanding with Bahri Ship Management, a business unit of Bahri, The National Shipping Company of Saudi Arabia and a global leader in logistics and shipping, to strengthen its fleetโs capabilities.
Industry sources added that this agreement was signed byย Poul Hestbaek, Chief Executive Officer of Folk Maritimeย and Eng. Khalid Alhammad,ย President of Bahri Ship Management, 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,ย Poul Hestbaekย stated: โThe agreement marks a new era of collaboration as two Saudi-based entities join hands to strengthen the Kingdomโs logistics and maritime infrastructure. Since our inception last year, 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. Bahriโs proven expertise in ship management and crewing, will enable us to strengthen our fleet and add tremendous value to our operations as Saudi Arabiaโs pioneering independent feeder and short-sea shipping operator.โ
Echoing the sentiment,ย Eng. Khalid Alhammadย commented: โEvery collective step we take towards enhancing Saudi Arabiaโs maritime logistics capabilities only brings us closer to realizing Vision 2030โs 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.โ
Industry sources added that with two vessels in operation, Folk Maritime serves as a strong partner in driving feeder services along one of the worldโs 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.
