Folk Maritime Services Company has announced the launch of a new shipping route connecting Saudi Arabia’s Jeddah Islamic Port with India’s major commercial ports, Mundra and Nhava Sheva.
Starting in September, this 10-day service, utilizing two vessels, aims to boost trade by facilitating the transport of consumer goods from India and exporting Saudi products, including petrochemicals.
Along with deploying its own vessel, Folk Maritime has entered into a Vessel Sharing Agreement (VSA) with Oman’s Asyad, which will contribute an additional ship to the India Red sea Service (IRS).
The new service highlights the growing trend of ‘friend-sourcing’ between Saudi Arabia and India, reflecting the strong diplomatic and economic ties between the two nations.
These ties were further strengthened by the visits of Crown Prince Mohammed bin Salman to India in 2019 and Indian Prime Minister Narendra Modi to Saudi Arabia in 2016, which led to the creation of a Strategic Partnership Council co-chaired by both leaders.
Saudi Arabia is India’s fourth-largest trading partner, while India ranks as the second-largest trading partner of Saudi Arabia, with trade between the two countries making up over 4.5% of India’s total trade for FY 2022-23.
Mundra Port in Gujarat, India’s largest commercial and container port, serves as a key gateway for the northern hinterlands with robust multimodal connectivity. Nhava Sheva Port, located near Mumbai in Maharashtra, handles a significant portion of India’s containerized trade and is a hub for long-haul international shipping to and from the country.
“The new route will further enhance bilateral trade between the Kingdom of Saudi Arabia and India and underlines our ambition to become one of the leading maritime service providers in the region. It will also contribute to the goals of Saudi Vision 2030 to establish the Kingdom as a global logistics hub by enhancing connectivity and maritime sector growth,” stated Poul Hestbaek, CEO of Folk Maritime, announcing the new service.