Saudi Arabia’s Folk Maritime Services, owned by the Public Investment Fund (PIF), has launched a new liner service connecting Jeddah Islamic Port to India’s Mundra and Nhava Sheva ports. The service, which commenced in September 2024, is set to run every 10 days with two vessels, including the company’s first owned vessel, M/V Folk Jeddah, and aims to enhance trade between Saudi Arabia and India.
The new India Redsea Service (IRS) will facilitate the movement of consumer cargo from India and products from Saudi Arabia, including petrochemicals. Folk Maritime has also entered a Vessel Sharing Agreement (VSA) with Oman’s Asayd, which will deploy an additional vessel on the route.
Poul Hestbaek, CEO of Folk Maritime, emphasised the service’s potential to boost bilateral trade and align with Saudi Vision 2030’s goals of establishing the Kingdom as a global logistics hub. He highlighted the route’s role in strengthening maritime connectivity and supporting economic growth in the region.
The launch reflects growing ‘friend-sourcing’ initiatives between Saudi Arabia and India, following high-profile visits by Saudi Crown Prince Mohammed bin Salman and Indian Prime Minister Narendra Modi. Saudi Arabia ranks as India’s fourth-largest trade partner, while India is the Kingdom’s second-largest trading partner, with bilateral trade accounting for over 4.5% of India’s total trade in FY2022-23.
The ports of Mundra and Nhava Sheva, key economic gateways in India, will play significant roles in this new service. Mundra serves northern India’s hinterland with multimodal connectivity, while Nhava Sheva, east of Mumbai, handles a large portion of India’s containerised trade.
Saleem Kadernani, Chief Commercial Officer of Folk Maritime, stated that the new service offers a sustainable solution for customers and is expected to generate value in the near and long term. Folk Maritime continues to expand its operations in the Red Sea, with plans to enhance its fleet and increase its coverage to support regional and global trade connections.
