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Folk Maritime becomes Middle East's first dry container fleet to deploy ORBCOMM®'s smart container technology

1. Folk Maritime partners with ORBCOMM for smart container technology. 2. This marks the first Middle Eastern dry container fleet deployment. 3. The partnership enhances supply chain visibility and cargo protection. 4. Folk Maritime aims to improve sustainability and operational efficiency. 5. ORBCOMM solidifies its leadership in smart container shipping solutions.

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Why Bullish?

This strategic partnership can boost ORBC’s revenue and market credibility. Historically, similar partnerships have led to increased stock performance.

How important is it?

The collaboration with Folk Maritime represents a significant market outreach in the Middle East, affecting ORBC's growth trajectory.

Why Long Term?

New technology partnerships usually take time to translate into significant sales. However, sustained growth is expected as industries modernize.

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ROCHELLE PARK, N.J., March 18, 2025 (GLOBE NEWSWIRE) -- ORBCOMM, the world’s largest dry and reefer container visibility solutions provider, today announced that Folk Maritime Services Company has chosen ORBCOMM’s smart container monitoring technology to enable end-to-end supply chain visibility and enhanced cargo protection for their entire container fleet. This partnership will make Folk Maritime—a feeder and regional liner services provider from Saudi Arabia—the first container shipping line from the Middle East to deploy a smart dry container fleet, showcasing their dedication to being at the forefront of digital innovation. “We’re always looking to push the boundaries of what’s possible. ORBCOMM’s technology will enable us to further digitalize our shipping operations so we can solve logistical problems, optimize shipment tracking and improve our cargo integrity and protection,” says Mohamed Badawi, Folk Maritime’s Chief Operating Officer. “Plus, we’ll be able to improve environmental sustainability—which is deeply rooted in our DNA—by optimizing operations, routing and asset utilization to decrease energy use and carbon emissions.” ORBCOMM’s dry container monitoring technology provides current and historical location reporting to help shipping lines increase asset visibility, streamline operations, boost sustainability, inform routing and more. With door sensors, Folk Maritime can strengthen container security by receiving alerts when doors have been opened or closed, empowering them to react quickly to prevent potential cargo damage or theft. This solution will enable Folk Maritime to track assets and cargo across the supply chain, delivering higher levels of visibility to their customers. For Christian Allred, ORBCOMM’s Chief Commercial Officer, being a part of the Middle East’s first smart dry container deployment is an honor. “Folk Maritime is inspiring, having launched its operation in February 2024 and already showing immense dedication to supply chain digitalization,” says Allred. “This collaboration further cements our position as industry leaders in smart container shipping solutions. We’re excited to see how our customers, and the maritime industry at large, continue to use our solutions to create a more sustainable and streamlined supply chain.” With 30 years of industrial IoT innovation, ORBCOMM is the world’s largest dry and reefer container solutions provider. Since 2007, ORBCOMM has helped customers track and monitor 600,000 reefer containers and shipped over one million dry container devices in 2024 alone. About ORBCOMM ORBCOMM is a pioneer in IoT technology, empowering customers with insight to make data-driven decisions that help them optimize their operations, maximize profitability and build a more sustainable future. With 30 years of experience and one of the most comprehensive solution portfolios in the industry, ORBCOMM enables the management of over a million assets worldwide for a diverse customer base spanning transportation, supply chain, heavy equipment, maritime, natural resources and government. For more information about how ORBCOMM is driving the evolution of industry through the power of data, visit www.orbcomm.com. About Folk Maritime Folk Maritime Services Company, a Public Investment Fund company, was established in 2023, with the mission to connect regional ports seamlessly, and catalyse trade across the Middle East, Indian Subcontinent and East Africa. Its strategic goal is aligned with Saudi Arabia's vision to become a global logistics hub, underlining the Kingdom’s premier position in leading multiple high-growth industrial sectors. Offering regional liner and feeder services, Folk Maritime is creating new trade lanes and delivering end-to-end shipping solutions, connecting key transshipment routes in the Arabian Gulf, Red Sea, and beyond, by delivering cost-effective and efficient logistics services that will drive transformational trade growth. Through neutral feeder operations, the company seamlessly links smaller ports to larger hubs, while also offering end-to-end shipping solutions for cargo owners. ORBCOMM media contactLina PaerezSVP of Global Marketing and Communications+1 613.875.1485paerez.lina@orbcomm.com Folk Maritime media contact Raied AbuhimedGM of Corporate Communication+966552361122rabuhimed@Folkmaritime.com A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3f48fcd8-fc34-46eb-8596-b12c33e88cd7 Folk Maritime becomes Middle East’s first dry container fleet to deploy ORBCOMM®’s smart container t... Richard Jacobsen, Sales Director EMEA Maritime at ORBCOMM (left), and Mohamed Badawi, Chief Operatin...

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