Latest news with #FolkMaritime
Middle East Eye
08-07-2025
- Business
- Middle East Eye
Greek dock workers will refuse to unload Israel's 'murderous cargo'
Dock workers at the port of Piraeus have said that they will refuse to unload the Ever Golden, a container ship carrying military-grade steel to Israel, when it arrives in Greece. 'We will not unload a single inch of this murderous cargo,' Enedep, the union of dock workers at Athens's port city, said on Tuesday. 'The dock workers of Piraeus will not be complicit. We will not unload military steel from the Ever Golden - no to Greece's involvement - freedom for Palestine,' the workers said. According to the ship and container tracking site Vessel Finder, the Ever Golden, which is Japanese-owned and sails under the flag of Panama, was sailing off the coast of West Africa on Tuesday morning. It is expected to reach Piraeus on 14 July. Once it arrives there, its cargo is intended to be moved to another container ship, the Folk Dammam, and taken on to Israel. New MEE newsletter: Jerusalem Dispatch Sign up to get the latest insights and analysis on Israel-Palestine, alongside Turkey Unpacked and other MEE newsletters The Ever Golden, which was built in 2018 and is carrying 75 bundles of military-grade steel originating in India, stopped into a port in Singapore for six hours between 12 and 13 June. Last week, the Boycott, Divestment and Sanctions (BDS) anti-Israeli occupation movement posted on social media that the vessel, 'carrying steel to Israel in the middle of its ongoing genocide against 2.3 million Palestinians', was on its way to Greece. 'The port of Piraeus is not an advanced outpost of the US, Nato, the EU or the war profiteers' - Dock workers at the port of Piraeus 'There, the cargo is set to be transferred to the Folk Dammam, which flies the flag of Saudi Arabia.' The Folk Dammam is then scheduled to take the steel to the port of Haifa in Israel. A container ship, the Folk Dammam, was bought by Saudi Arabian operator Folk Maritime, which is owned by the Saudi Public Investment Fund (PIF), on 14 May. According to BDS, the transshipment of military-grade steel was arranged when the vessel was called Vega Coligny and was sailing under the flag of the Marshall Islands. On Tuesday, shipping tracker Marine Traffic placed the Folk Dammam at the port of Mundra on the west coast of India. 'We call on activists and people in Greece and Saudi Arabia - as well as Japan, Panama, Taiwan and all coastal states - to pressure their authorities not to aid this (or any) illegal military transfers to genocidal Israel - and, instead, to stop it,' the BDS movement said. The Ever Golden's manager, Shoei Kisen Kaisha Ltd, which is part of Imabari Shipbuilding, is based in Japan. It flies under the Panamanian flag and its operator, Evergreen Marine Corporation, is based in Taiwan. Middle East Eye has asked Evergreen Marine Corporation and Folk Maritime for comment. 'United against imperialist involvement' Piraeus dock workers said the Ever Golden was expected to arrive at docks two and three on 12 July carrying military-grade steel. 'This is a war cargo that, if unloaded and transferred, will end up being used to strike children, civilians, hospitals, and schools in the massacre carried out by the murderous state of Israel against the Palestinian people,' the Enedep union said. Watermelon Index names and shames companies complicit in Israel's war on Gaza Read More » 'The port of Piraeus is not an advanced outpost of the US, Nato, the EU or the war profiteers. It is not a transshipment station for deadly cargo. It is a place of work and struggle for the working class. As we have done in the past, we will not unload a single inch of this murderous cargo.' Enedep called on all dock workers to 'refuse any assignment related to this vessel. Let us stand united against imperialist involvement'. 'We refuse to be tools of the US, Nato, the EU, Israel, or China, who use our country's infrastructure to reshape the world redrawing borders with the blood of nations of the Palestinian people,' the union said. 'We stand on the right side of history and refuse to become targets of retaliation ourselves.' Dock workers against Israel The declared action at Piraeus follows in the wake of a series of similar acts of organised resistance at European ports. On 4 June, French dockers in the CGT union discovered that 19 pallets of submachine gun spare parts were to be loaded at the port of Marseille-Fos onto a Liberian-flagged container ship bound for Haifa. The dockers located the container, set it aside and refused to load it onto the ship, saying they would "not participate in the ongoing genocide orchestrated by the Israeli government". Following their lead, the port workers of Genoa, through their union USB, coordinated a garrison at the Port of Genoa, with the aim of preventing the docking of the same ship, the CONTSHIP ERA. The Italian dock workers said that they, too, did not want to "be complicit in the genocide that continues in Gaza".
Arab News
08-04-2025
- Business
- Arab News
PIF-backed Folk Maritime boosts regional connectivity with 2nd vessel purchase
JEDDAH: Saudi shipping firm Folk Maritime Services Co. has purchased its second vessel in a sign of the growing strength of the Kingdom's logistics sector. The company, which is owned by the Public Investment Fund, described the acquisition of the M/V Folk Jazan as a significant step forward in enhancing regional maritime connectivity. The addition of the second vessel aligns with Saudi Arabia's National Logistics Strategy, which aims to increase the sector's contribution to the gross domestic product from 6 percent to 10 percent by 2030. Registered at Jeddah Islamic Port, the vessel has begun operating on the company's routes across the Red Sea and Arabian Gulf, offering cost-effective and efficient logistics services that will drive trade growth. The company's CEO, Poul Hestbaek, said the acquisition of M/V Folk Jazan expands the firm's operational capabilities and reinforces Folk's commitment to supporting Saudi Arabia's Vision 2030. 'Folk Maritime's strategic acquisition of its second owned Saudi-flagged container vessel, part of an expanding fleet now totaling six ships, significantly enhances the company's operational flexibility and reduces dependency on chartered vessels,' Hestbaek noted. The CEO noted that his company's fleet expansion, which started with the purchase of 'Folk Jeddah' in September, now operating out of Jeddah Islamic Port, significantly strengthens trade operations and underscores Folk Maritime's dedication to increasing its contributions to the regional economy. Built in 2008 by Zhejiang Shipbuilding Co. in China, Folk Jazan has a nominal capacity of 2,015 twenty-foot equivalent units, enhancing operational flexibility and greatly expanding Folk Maritime's service network, the company stated in a press release. Engineered to meet the demands of modern containerized shipping, the vessel achieves a critical balance between capacity and operational efficiency, ensuring reliable service. Established in 2023 and commencing operations in April 2024, Folk Maritime is dedicated to enhancing the Kingdom's maritime connectivity by providing reliable shipping solutions that support regional trade. Through the expansion of its fleet, the company has strengthened the local supply chain and created jobs. National drive for maritime connectivity In March, the Saudi Ports Authority, also known as Mawani, announced Mediterranean Shipping Co. would launch the new 'Clanga' shipping line at Jubail Commercial Port, a move aimed at bolstering the Kingdom's investment and logistics landscape, according to the Saudi Press Agency. The new service will link Jubail with King Abdulaziz Port in Dammam, the Port of Singapore, the Port of Shanghai in China, and the Port of Colombo in Sri Lanka, with a handling capacity of up to 6,000 TEUs. In February, Mawani also revealed the introduction of five new shipping services by Hapag-Lloyd and Maersk, serving Jeddah Islamic Port, King Abdulaziz Port in Dammam, and Jubail Commercial Port. According to the authority, these services will further connect Saudi ports to major regional and international hubs, including Aqaba in Jordan, Port Said in Egypt, and Tangier in Morocco, as well as Algeciras in Spain, Jebel Ali in the UAE, Mundra and Pipavav in India, and Salalah in Oman.
Zawya
08-04-2025
- Business
- Zawya
Folk Maritime purchases second vessel 'Folk Jazan' to expand regional maritime connectivity
Riyadh -- Folk Maritime Services Company, a Public Investment Fund (PIF) company and one of the region's emerging leaders in providing regional liner and feeder services, announced today the official purchase of its second owned vessel, M/V Folk Jazan. Registered at Jeddah Islamic Port, this acquisition marks a significant leap forward in strengthening regional maritime connectivity and solidifying Saudi Arabia's position as a global logistics powerhouse. M/V Folk Jazan has initiated operational deployment in the company's routes throughout the Red Sea and the Arabian Gulf. "The acquisition of M/V Folk Jazan is a pivotal step in our strategic growth," said CEO of Folk Maritime Poul Hestbaek. "This vessel not only expands our operational capabilities but also reinforces our commitment to supporting Saudi Arabia's Vision 2030 by enhancing the Kingdom's maritime infrastructure and contributing to its emergence as a global logistics hub." "Folk Maritime's strategic acquisition of its second owned Saudi-flagged container vessel, part of an expanding fleet now totaling six ships, significantly enhances the company's operational flexibility and reduces dependency on chartered vessels. This acquisition underscores Folk Maritime's swift advancement in strengthening Saudi Arabia's maritime capabilities and supports the Kingdom's 2030 Vision to emerge as a global logistics hub. The company's fleet expansion, which began with the acquisition of 'Folk Jeddah' in September 2024, now operated out of Jeddah Islamic Port, further bolsters regional trade and showcases Folk Maritime's commitment to scaling up its contributions to the regional economy," said Hestbaek. Built in 2008 by Zhejiang Shipbuilding Co., China, Folk Jazan boasts a nominal capacity of 2015 TEU, optimizing operational flexibility and significantly expanding Folk Maritime's service network. Engineered to meet the rigorous demands of modern containerized shipping, the vessel achieves a critical balance between capacity and operational efficiency, ensuring seamless and reliable service. Since launching its operations in April 2024, Folk Maritime has significantly advanced Saudi Arabia's maritime and logistics sectors by providing efficient regional liner and feeder services. The company is steadfast in strengthening the Kingdom's maritime connectivity, offering reliable shipping solutions supporting regional trade. Through its fleet expansion, Folk Maritime has bolstered the local supply chain, created jobs, and contributed to the nation's ambition of becoming a global logistics hub.
Asharq Al-Awsat
02-03-2025
- Business
- Asharq Al-Awsat
Folk Maritime CEO Asharq Al-Awsat: Saudi Arabia's Strategic Location Boosts Trade, Shipping
Saudi Arabia is positioning itself as a new hub in the maritime shipping industry, not merely to generate revenue—a legitimate goal—but to drive a broader transformation of the sector on a global scale. The Kingdom's plans aim to restructure the industry in line with current demands and evolving market dynamics. Riyadh is advancing this vision to build a more efficient future for maritime shipping as part of a broader strategy that includes various initiatives and innovations across multiple sectors. These efforts are designed to foster growth and contribute to the development of the global economy. Folk Maritime CEO Poul Hestbaek said the company's innovative model drives economic growth by enhancing connectivity between markets in the Middle East, the Indian subcontinent, and Africa. This, he told Asharq Al-Awsat, reinforces Saudi Arabia's position as a key player in the global logistics network, aligning with the country's Vision 2030 strategy. Saudi Arabia's strategic location at the crossroads of Asia, Africa, and Europe positions it as a key hub for global trade, and Folk Maritime is leveraging this advantage to create new opportunities that drive commercial growth, Hestbaek stressed. This geographic edge, he said, facilitates faster and more efficient shipping routes while strengthening Saudi access to major global markets. By enhancing maritime logistics and trade connectivity, Folk Maritime plays a vital role in boosting Saudi Arabia's competitive edge in international commerce, Hestbaek said. The company's focus, he added, is on building a robust logistics infrastructure across the Red Sea, the Gulf, and East Africa, with key links to the Indian subcontinent. Its expansion plans include growing regional hubs and fleet capacity, with a target market share of 15% to 20% by 2030 and total cargo exceeding 4 million containers to enhance service efficiency and operational resilience. The company plans to launch new services in the southern Red Sea this year and continue integrating advanced technologies such as real-time tracking and recyclable containers to support these efforts, Hestbaek said. Folk Maritime's strategy Folk Maritime is focused on boosting service quality and connectivity between ports in the Red Sea, the Arabian Gulf, and India by strengthening operational stability and reliability, Hestbaek continued. Expanding the company's fleet is a strategic priority, he added, noting that Folk Maritime plans to purchase and build new ships and containers in 2025 while adhering to environmental and sustainability standards. These efforts align with Folk Maritime's strategic goals by increasing fleet capacity to offer direct services to clients, ensuring the long-term sustainability of the maritime transport sector and its resilience to market challenges, he remarked. Folk Maritime launched its direct service operations in October, with a strong focus on the Saudi market and support for local content, he said. Strengthening regional port connectivity Folk Maritime is playing a key role in strengthening Saudi Arabia's logistics sector and supporting Vision 2030 by improving connectivity between major regional ports, Hestbaek said. The company is contributing to Saudi Arabia's efforts to become a global logistics hub by building a strong shipping network that attracts global trade and enhances the Kingdom's infrastructure, he told Asharq Al-Awsat. Folk Maritime recently launched a new maritime route linking India and the Gulf, connecting key ports in Umm Qasr and Dammam with India's Mundra and Nhava Sheva. In addition to this route, it operates four other key services, including a Red Sea-India connection, an inter-Red Sea network, and a fast-shipping service between Jeddah and Port Sudan, Hestbaek said. These services strengthen regional trade in essential goods and foster cooperation, reinforcing Saudi Arabia's position as a strategic logistics hub, he went on to say. Hestbaek noted that while land transport remains Saudi Arabia's primary shipping method, it faces challenges such as high costs and congestion. Folk Maritime, he said, provides an alternative by operating its own fleet, offering efficient port-to-port shipping solutions, and boosting connectivity between smaller ports. Support from the Public Investment Fund Hestbaek emphasized that Saudi Arabia's Public Investment Fund (PIF) provides strategic and financial backing, aligning Folk Maritime's initiatives with Vision 2030. With PIF's support, it expanded its fleet, acquired new vessels, built containers, and developed local talent—contributing to economic diversification and job creation, he said. Folk Maritime aims to become a regional leader in feeder vessels and maritime trade lanes, ensuring seamless port connectivity and supply chain security. By expanding the fleet and investing in technology, it is reinforcing Saudi Arabia's position as a global logistics hub, leveraging strategic partnerships and digital innovation to maintain Folk Maritime's leadership in the maritime shipping sector, he said. Integrating advanced technology On the company's technological strategy, Hestbaek said Folk is focused on two main objectives: enhancing customer experience and improving operational efficiency through data-driven solutions. Artificial intelligence plays a crucial role in achieving this, he said. Customers demand transparency and real-time shipment tracking, which is why it built an entirely new digital system from the ground up, avoiding the limitations of outdated platforms. Folk Maritime has implemented Internet of Things (IoT) technology and equipped all containers with GPS tracking, improving fleet management and ensuring greater transparency. Discussing Folk Maritime's role in supporting regional and global trade, Hestbaek outlined a two-tiered approach. At a global level, it is developing a network linking major ports such as Jeddah Islamic Port, King Abdullah Port, and King Abdulaziz Port in Dammam, he said. This connectivity extends beyond the Red Sea and Gulf coasts to smaller Saudi ports, enabling safer and more environmentally friendly transport by shifting cargo from roads to ships. Regionally, Folk Maritime is empowering cargo owners through digital solutions that capitalize on the region's booming trade landscape. India, with its diverse exports to the Middle East, East Africa, and beyond, is a key focus for Folk Maritime, Hestbaek said. The company is expanding services in these markets to support India's growing export sectors. While India remains a priority, Folk Maritime is also targeting other trade corridors, such as Egyptian exports, to improve connectivity between primary and secondary ports. As part of Vision 2030, Saudi Arabia is building major logistics hubs, and Folk Maritime is committed to playing a vital role in realizing this ambitious vision, Hestbaek stressed.
Gulf Business
29-01-2025
- Business
- Gulf Business
PIF-owned Folk Maritime focused on driving regional trade, says CEO
Image: Supplied Launched in 2024 as a subsidiary of the Public Investment Fund ( Through its innovative feeder and regional liner services, the company is helping solidify Saudi Arabia's ambition to become a global logistics hub while promoting economic diversification and trade connectivity. Here, CEO Poul Hestbaek outlines the Folk Maritime was launched in 2024 with a mission to catalyse regional trade. What inspired its establishment, and how does the company contribute to Saudi Arabia's vision of becoming a global logistics hub? Folk Maritime was founded to meet the growing need for efficient, scalable maritime connectivity in the region. Saudi Arabia's strategic position, coupled with Vision 2030's focus on economic diversification, made this the ideal time to build a company that directly contributes to the kingdom's ambition of becoming a global logistics hub. Through our feeder and regional liner services, we help enhance Saudi Arabia's logistics infrastructure, supporting the kingdom's goals of diversifying its economy and promoting trade. The company offers both feeder services and regional liner services. How do these services complement each other in supporting the region's logistics ecosystem and enhancing trade connectivity? Folk Maritime's feeder services connect smaller Saudi ports to global hubs, ensuring critical cargo flow even in remote areas. This vital 'last-sea-mile' service ensures seamless integration of Saudi ports into the global supply chain, contributing to supply chain resilience. Additionally, our regional liner services, such as the India Gulf and North Red Sea services, directly link Saudi ports to neighbouring regions, facilitating the movement of key goods like petrochemicals and consumer products. By expanding these services, we help secure the kingdom's supply chain, better ensuring the continued flow of cargo during crises, such as pandemics or geopolitical instability, leading to enhanced trade connectivity and regional economic growth. With Folk Maritime's focus on innovation, how are you leveraging cutting-edge technologies like AI, blockchain, and IoT to improve operational efficiency and customer experience? We use IoT-enabled smart containers to track cargo in real-time, enhancing transparency and minimising delays. We intend to use AI to optimise route planning, predictive analytics, and reduce paperwork, ensuring more efficient and reliable service. These technologies allow us to stay ahead in the competitive shipping industry, offering improved operational efficiency and a better customer experience. Folk Maritime operates key regional services such as the India Gulf Service and North Red Sea Service. Can you discuss how these routes are reshaping trade and logistics in the Middle East and the Indian Subcontinent? The India Red Sea Service connects key ports in India to Saudi Arabia's Red Sea ports, enhancing trade in petrochemicals and consumer goods. It supports the trend of 'friend-sourcing', where countries trade with geographically closer, trusted partners. Similarly, the North Red Sea Service links Saudi ports to neighbouring countries, strengthening regional logistics and reinforcing Saudi Arabia's position as a global logistics hub. These services expand trade and improve regional connectivity. As the first independent feeder services operator in Saudi Arabia, how do you ensure the reliability and efficiency of these services in connecting smaller Saudi ports to larger international hubs? We ensure reliability through modern vessels like Folk Jeddah and real-time cargo tracking. These technologies minimise delays and enhance efficiency. Our flexible, scalable feeder network ensures that even smaller Saudi ports remain integral to global trade, strengthening the kingdom's logistics network. Sustainability is a central part of Folk Maritime's operations. How is the company aligning with Saudi Arabia's Net Zero 2060 strategy, and what steps are being taken to reduce its environmental impact? Folk Maritime supports Saudi Arabia's Net Zero 2060 strategy by integrating sustainable practices, such as smart containers made with recyclable materials. Our M/V Folk Jeddah meets energy-efficient standards, reducing fuel consumption and emissions. We also explore alternative fuels and optimise route planning to reduce our environmental footprint, helping the kingdom meet its sustainability goals. How does Folk Maritime prioritise compliance with IMO regulations, maritime decarbonisation, and the adoption of alternative fuels to ensure sustainable shipping practices? Folk Maritime complies with IMO regulations and prioritises decarbonisation by adopting energy-efficient technologies. We optimise routes to reduce fuel consumption and minimise emissions. By setting high sustainability standards, we comply with regulations and drive innovation, ensuring our fleet operates efficiently and sustainably. Folk Maritime is committed to the Saudi Arabia Local Content Partnerships Initiative. How does your company contribute to the kingdom's economic goals through local content, and how are you supporting the development of a skilled, national workforce? As a Public Investment Fund (PIF) company, Folk Maritime contributes to the local economy by sourcing materials locally and operating Saudi-flagged vessels. We also support workforce development by offering training programmes in maritime logistics, ensuring the growth of Saudi talent and preparing the next generation for leadership roles in the maritime industry. What challenges do you face in the rapidly evolving logistics and maritime industry, and how are you addressing these challenges? A key challenge is balancing rapid growth with operational efficiency while adapting to shifting global trade dynamics. The logistics industry is sensitive to geopolitical shifts and changing regulations. To address these, we are expanding into new markets like India and enhancing regional connectivity. Our objective is to stay agile and have the operational flexibility to quickly react to changing trade pattern and cargo flows. What are the next steps for Folk Maritime as it expands its services and strengthens its position in the regional and global shipping market? How do you see the future of Saudi Arabia's logistics industry evolving over the next five to 10 years? Folk Maritime is focused on achieving a 15-20 per cent market share in the four-million TEU* regional market by 2030. We aim to expand our fleet, with plans to acquire four-five ships in the next 18 months, increasing our fleet ownership to 60-65 per cent, alongside vessel partnerships. Our strategic goal is to position Folk Maritime as a leading regional liner service provider, strengthening our feeder services to smaller ports while maintaining flexibility to meet evolving market demands. With Vision 2030 driving infrastructure growth, Saudi Arabia is poised to become a global logistics hub, and Folk Maritime will play a pivotal role in this transformation. * Twenty-foot equivalent unit: a measure of volume in units of twenty-foot long containers
