Folk Marine launches new shipping route linking GCC, India
RIYADH, October 31, 2024
Folk Marine Services Company, a comopany of Saudi sovereign wealth fund PIF, has announced the launch of a new regional shipping route "India-Arabian Gulf Service," connecting key GCC ports, including Dammam and Umm Qasr, with two major commercial ports in India, Nhava Sheva and Mundra.
The new service began yesterday (October 30), departing from Dammam with the vessel "Asterius," which has a capacity of 1,827 twenty-foot equivalent units (TEUs). The service will shift to a weekly schedule by December, transporting imports from India to Umm Qasr.
The route aims to strengthen trade ties with India; facilitate the flow of consumer goods, petrochemicals, and essential commodities; and support the expanding strategic partnership between Saudi Arabia and India.
The service also promotes regional and international market connectivity, with a focus on Asian, African, and European trade routes.
Dammam Port, one of the top 10 ports in the Middle East with an annual throughput of 2.7 million TEUs, plays a crucial role in both regional and global supply chains.
Folk Marine Services Company’s chief executive highlighted that the new route addresses critical gaps in logistics and supports the company’s mission of connecting major ports, industries, and shipping lines worldwide.
The route aligns with the goals of the Kingdom's Vision 2030 to position Saudi Arabia as a global logistics hub, enhancing Dammam's strategic role as a major logistics center. The milestone also marks Folk Marine as the first Saudi company to offer this service.
