Saudi Arabia to develop logistics hub in Djibouti
NewsSaudi Arabia has signed a 92-year deal to develop a logistics city in Djibouti’s free trade zone to boost trade with Africa and attract Saudi investors.
With a strategic focus on connecting markets previously untouched, Folk Maritime charts a course for increased trade and connectivity in the Middle East.
A new chapter in Saudi Arabia’s maritime industry unfolds as Folk Maritime embarks on its maiden voyage.
Led by industry veteran Poul Hestbaek, well known for his leadership at Maersk’s Hamburg Sud, the Riyadh-based container shipping company aims to revolutionize regional shipping with its feeder vessel and short-sea services.
The company’s initial services comprise the Port Sudan Service (PSS), with a 700 TEU vessel sailing every two weeks between Jeddah and Sudan. Also, the North Red Sea Service (NRS) operates with two 2,500 TEU vessels weekly, linking Jeddah, Neom, Ain Sokhna, Aqaba, Yanbu, and Jeddah.
With a strategic focus on connecting ports and markets previously untouched, Folk Maritime charts a course for increased trade and connectivity in the Middle East.