Transport Corporation of India (TCI) aims to increase its coastal shipping capacity by 30-40% over the next four to five years, targeting approximately 94,000 tonnes of deadweight tonnage, according to Managing Director Vineet Agarwal. Currently, TCI operates around 78,000 tonnes and anticipates adding another 15,000-16,000 tonnes with the arrival of two new vessels this year. The firm expects continued similar additions annually, with overall capacity remaining the focus, as some older ships are expected to be retired.
Although coastal shipping represents only a third of TCI’s business, the expansion is part of a broader strategy to enhance its multimodal logistics capabilities. TCI has ordered new ships from Chinese shipyards, aiming for a fleet of around eight vessels by the end of FY27. The company has earmarked Rs 200 crore for capital expenditure in its shipping division this year and is exploring further investments in both new and second-hand vessels.
Despite a recent decline in net profit to Rs 105 crore amid rising costs, Agarwal remains optimistic about future growth, projecting a 10-12% rise in revenue and profits in FY27. He notes that segments like automotive and industrial continue to drive growth, despite challenges faced by MSMEs and FMCG players due to tighter credit and rising input costs.
