Kuwait adds 5 new e-payment solutions providers to boost financial innovation 

Kuwait adds 5 new e-payment solutions providers to boost financial innovation 
Kuwait adds 5 new e-payment solutions providers to boost financial innovation 

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Folk Maritime shipping line welcomed its inaugural vessel, Sunset X, at the Jeddah Islamic Port, aiming to bolster the Kingdom’s logistics capabilities.  

The ship’s arrival was marked by a ceremony acknowledging the crew’s contribution to this achievement.  

Folk Maritime, recognized as the first Saudi company specializing in container and feeder crafts, offers essential short-distance shipping and tributary services. 

The firm is dedicated to providing reliable and efficient solutions tailored to meet the demands of customers in the Arabian Gulf, the Red Sea, and beyond. 

This strategic move highlights the company’s commitment to bolstering the Kingdom’s logistics sector. 

With 62 multi-purpose berths and versatile operational capabilities, the port is fully equipped to handle vessels of various sizes and cargo types, reinforcing its position as a premier port in the Red Sea region. 

Furthermore, the Saudi Ports Authority, known as Mawani, announced an expansion of Folk Maritime’s shipping services.  

On April 1, Folk Maritime launched a new service connecting Jeddah to the northern Red Sea, further boosting Saudi Arabia’s maritime connectivity.  

The offering will link Jeddah Islamic, Yanbu Commercial, and NEOM terminals in the Kingdom to Aqaba Port in Jordan and Ain Sokhna Port in Egypt.     

The service, referred to as NRS, will operate through regular weekly trips, with a capacity of up to 1,300 standard containers.     

This move aims to support the needs of the growing market and trade in the region.  

Additionally, it serves to reinforce Saudi Arabia’s position as a global logistics hub connecting three continents, in accordance with the objectives of the National Strategy for Transport and Logistics Services.  

Moreover, the new service falls within the cooperation framework between the authority and Folk Maritime.    

This collaboration aims to expand the company’s operational and logistical capabilities as a new operator in the regional market and as the first Saudi shipping line specializing in container and feeder ships.   

Furthermore, the introduction of new vessel services to Jeddah Islamic Port reinforces its pivotal position due to its strategically advantageous location. This allows it to serve as a key hub connecting Europe, Asia, and Africa.  

It also confirms the harbor’s competitive advantage in front of exporters, importers, and shipping agents, as it is the first terminal on the Red Sea coast in the field of transit maritime trade and the transshipment of containers and goods. 

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