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Marine Fleet plans to double growth in three years
Fulk Saudi Marine Company aims to double its business volume over the next three years by expanding its fleet through the purchase and leasing of new ships, despite challenges such as rising insurance and fuel costs, as well as navigational disruptions that have affected shipping operations. Its plan includes studying the construction of a modern fleet as the current period draws to a close, with the goal of becoming one of the Top Three companies in the region. The focus is on strengthening existing expansion rather than acquiring regional companies at this time, due to operational challenges such as increased transportation costs, insurance premiums rising up to 15 times, and fuel prices doubling, all of which have led to a decline in cargo volumes compared to expectations. The company remains committed to the safety of its crews throughout these developments.
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