Folk Maritime Services Company, a subsidiary of the Public Investment Fund (PIF) and a provider of regional liner and feeder services, announced the acquisition of three container vessels to expand its fleet, according to the company's release.
The vessels, named M/V Folk Dammam (1,868 TEUs), M/V Folk Yanbu (702 TEUs), and M/V Folk Jubail (1,118 TEUs), are registered under the Saudi flag at Jeddah Islamic Port. Deployment across the company’s services is scheduled to begin within the next month.
The addition of these vessels will increase Folk Maritime’s operational capacity across the Red Sea, Arabian Gulf, Indian subcontinent, and other regional trade corridors, aligning with Saudi Arabia’s Vision 2030 to establish the Kingdom as a global logistics hub.
Poul Hestbaek, CEO of Folk Maritime, stated: “The addition of Folk Dammam, Folk Yanbu, and Folk Jubail to our fleet strengthens our ability to deliver efficient and reliable shipping solutions. This expansion not only supports Folk Maritime’s ambitions to expand fleet capacity, but also reinforces our commitment to reducing reliance on chartered vessels and investing in Saudi-flagged assets. These efforts directly align with Vision 2030’s objectives to build a competitive, self-sufficient logistics sector.”
This acquisition follows Folk Maritime’s earlier fleet expansions, including the addition of M/V Folk Jeddah (1,868 TEUs) in September 2024 and M/V Folk Jazan (2,015 TEUs) in April 2025.
With the inclusion of Folk Dammam, Folk Yanbu, and Folk Jubail, the company’s fleet now comprises eight vessels, with five owned and three chartered.
Folk Maritime Services Company, established in 2023, is a Saudi-based maritime operator and a subsidiary of the Public Investment Fund (PIF). The company focuses on providing regional liner and feeder services, connecting ports across the Middle East, North Africa, and the Indian subcontinent.