Folk Maritime launches new liner service connecting Red Sea ports and Indian subcontinent
Folk Maritime Services Company, a PIF company and one of the region’s emerging leaders in providing regional liner and feeder services, has announced the launch of a new liner service connecting the Red Sea port of Jeddah Islamic Port to India’s Mundra and Nhava Sheva, two of the largest commercial ports in the country, according to the company's release.
Commencing in September, the 10-day service, with two vessels, will strengthen trade ties by facilitating the movement of consumer cargo from India, and products from the Kingdom, including petrochemicals. In addition to deploying its vessel, Folk Maritime has also signed a Vessel Sharing Agreement (VSA) with Oman’s Asayd, which will also deploy a vessel for the new route.
The new route represents the growth in ‘friend-sourcing’ between Saudi Arabia and India and builds on the strong bilateral ties between the two countries. The visit of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister to India in 2019, which came after the visit of Indian Prime Minister Narendra Modi to Saudi Arabia in 2016, have marked a new era in bilateral cooperation including the establishment of a Strategic Partnership Council co-chaired by the two leaders.
Saudi Arabia is India’s fourth largest trade partner and India is the Kingdom’s second largest trading partner. Total trade with Saudi Arabia accounted for over 4.5% of India’s total trade in FY2022-23.
India’s largest commercial and container port, Mundra in Gujarat, is a major economic gateway serving northern hinterland of India with multimodal connectivity. Nhava Sheva port, located east of Mumbai, in the state of Maharashtra, handles a significant portion of India’s containerized trade, and is the focal point of long-haul calls to and from the emerging market economy.
Folk Maritime started its official operations in the Red Sea with two liner services: one that connects the Kingdom’s ports of Jeddah Islamic Port, Neom, and Yanbu to the Red Sea ports, Sokhna and Aqaba, and a second route offering service between Port Sudanand Jeddah Islamic Port.
