TM International Logistics Ltd., (TMILL), a joint venture of Tata Steel, NYK Holding, Europe and IQ Martrade, is keen to carry steel coils for Tata Steel under the Indian Railways’ Special Freight Train Operators Scheme.
“We are very excited about running our own trains through participation in Indian Railways’ Special Freight Train Operators (SFTO) Scheme. The scheme offers us vast opportunities to expand our freight logistic business in association with Indian Railways,” TMILL Managing Director R.N. Murthy said after announcing the 2014-15 results.
He said that TMILL was exploring opportunities to kick-start operations of private trains for carrying steel coils for Tata Steel under the SFTO Scheme.
He also said that the Railways had tweaked the scheme to increase its attractiveness for operators following several representations made by TMILL with Indian Railways seeking certain modifications and revisions in the SFTO Scheme.
The company was now engaged in getting approvals for internal processes of running such wagons besides finalising the model concession agreement for operations of SFTO trains, he added.
“Global markets and trade flows faced volatility during the year but the diverse business portfolio of TMILL group comprising port operations, shipping, freight forwarding, warehousing, ship agency and tugging was able to ensure growth for the company,” Sandipan Chakravortty, Chairman, TMILL, said.
TMILL & Group companies reported nearly 17 per cent jump in post-tax profit at Rs.42.15 crore during 2014-15 against Rs.35.98 crore in previous year.
“TMILL had been quick in its response to the changed business environment impacting steel raw material trade flows and rising import demand, which was reflected in the port operations of the company handling 11.26 million tonnes of port cargo during 2014-15 compared to 5.58 million tonnes in the previous year,” he added.
TMILL was formed in 2002. It has offices in the UAE, Germany, and China. It offers a single-window end-to-end logistical support for dry bulk, containerised and project cargo.
