{"id":83259,"date":"2024-12-23T00:00:00","date_gmt":"2024-12-23T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/23\/ksas-folk-maritime-to-acquire-5-6k-recyclable-containers-from-china\/"},"modified":"2024-12-23T00:00:00","modified_gmt":"2024-12-23T00:00:00","slug":"ksas-folk-maritime-to-acquire-5-6k-recyclable-containers-from-china","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/23\/ksas-folk-maritime-to-acquire-5-6k-recyclable-containers-from-china\/","title":{"rendered":"KSA\u2019s Folk Maritime to acquire 5.6k recyclable containers from China"},"content":{"rendered":"

PIF-backed Folk Maritime has inked a strategic agreement with Shanghai CIMC Yangshan <\/strong>Logistics Equipment to acquire 5.6k fully recycled shipping containers<\/strong>, CEO Poul Hestbaek told Arab News<\/a>. The 100% recyclable containers have a 6.7k TEU capacity and will last between 15 to 20 years. No timeline for delivery or cost has been disclosed. <\/p>\n

On a sustainability roll: <\/strong>Folk maritime operates fuel-efficient vessels and runs services at reduced and cost-effective speeds to cut fuel consumption and carbon emissions, Hestbaek says. The firm is also exploring carbon capture tech to lower its environmental footprint. \u201cIf we can find a way to capture the carbon footprint of fossil fuel use, it will be a game changer, especially for this part of the world,\u201d he added. <\/p>\n

Folk is expanding its fleet: <\/strong>The firm is lining up a multi-mn USD fleet expansion<\/a> over the next three to five years to increase access for KSA\u2019s smaller ports and alleviate demand for road transportation.. The firm acquired its first vessel this year and leased two additional ships. \u201cWe are working on a long-term strategy \u2026 first and foremost, the geographical scope is the Red Sea, all the countries surrounding the Red Sea,\u201d Hestbaek said at the time.<\/p>\n

Stacking up routes: <\/strong> Folk launched a new route \u2014 the India Gulf Service \u2014 linking the Kingdom\u2019s Dammam and Iraq's Umm Qasr ports with India\u2019s Nhava Sheva and Mundra ports back in October<\/a>. It was also reportedly launching a new liner service in September<\/a> that connects Jeddah Islamic Port to India\u2019s Mundra and Nhava Sheva, as well as new services connecting India with the Red Sea and the Arabian Gulf in 4Q 2024.<\/a> French shipping giant CMA CGM partnered with Folk Maritime back in March<\/a> to launch an upgraded service connecting ports in the Red Sea. The Saudi Port Authority (Mawani) has added a new shipping service<\/a> by Folk Maritime connecting Jeddah Islamic Port with Port Sudan.<\/p>\n

More on the way: <\/strong>The shipping outfit also plans on introducing three new routes next year to connect India to the Red Sea region, the Gulf, and Eastern Africa \u2014 adding on to the two routes it currently operates in the northern Red Sea.<\/p>\n","protected":false},"excerpt":{"rendered":"

The containers have a 6.7k TEU capacity and are 100% recyclable<\/p>\n","protected":false},"author":1,"featured_media":83260,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[190],"tags":[365,263,31,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shipping-maritime","tag-folk-maritime","tag-pif","tag-saudi-arabia","tag-shipping-maritime","wpautop","entry"],"acf":{"mongo_id":"5182bee3-4c07-432d-8d8b-008e371c8322","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1804.jpg","photo_position":"above","homepage_title":"","full_issue_title":"KSA\u2019s Folk Maritime to acquire 5.6k recyclable containers from China","related_issue":[83249],"teaser":"The containers have a 6.7k TEU capacity and are 100% recyclable","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.f90231a3-e127-4c70-a450-128dd0c9518d.mp3"},"yoast_head":"\nKSA\u2019s Folk Maritime to acquire 5.6k recyclable containers from China - 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