Arab Finance: The Saudi Ports Authority (Mawani), in partnership with Folk Maritime and SABIC, has launched the new Red Sea Express container shipping service to King Fahd Industrial Port to boost logistics connectivity, according to the Saudi Press Agency (SPA).
With a capacity of up to 1,100 twenty-foot equivalent units (TEUs), the service connects Jeddah Islamic Port, King Fahd Industrial Port in Yanbu, Ain Sokhna Port in Egypt, and Aqaba Port in Jordan.
The new shipping line is expected to improve cargo handling efficiency, reduce vessel waiting times, and promote supply chain efficiency, contributing to streamlined logistics services and enhanced operational performance.
Additionally, the Red Sea Express service would drive positive economic impacts by increasing non-oil exports and attracting new investments. It will also bolster the competitiveness of national exports by reducing shipping times and transportation costs.
