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Victoria International Container Terminal Ltd.’s contract extension for the management and operations of Webb Dock East terminal in the Port of Melbourne to 2066 officially takes effect
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The 26-year extension from 2040 goes into force following the completion on June 25 of all conditions and regulatory approvals
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VICT, a unit of International Container Terminal Services, Inc., and the Port of Melbourne Operations Pty Ltd. signed an agreement last February for the extension extending
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VICT said the extension allows it “to continue investing in capacity, systems and people to support the State’s trade requirements over the long term, while providing shipping lines and cargo owners with greater operating continuity and certainty”
Victoria International Container Terminal Ltd.’s (VICT) contract for the management and operations of Webb Dock East terminal in the Port of Melbourne from 2040 to 2066 is now officially in effect.
The 26-year extension goes into force following the completion on June 25 of all conditions precedent and required regulatory approvals, parent firm International Container Terminal Services, Inc. (ICTSI) said in a regulatory disclosure on June 26 to the Philippine Stock Exchange.
Last February, VICT and the Port of Melbourne Operations Pty Ltd. signed an agreement for the contract extension, subject to usual regulatory conditions.
ICTSI earlier said the Port of Melbourne has seen substantive growth in recent years, including record trade in 2025 when it handled approximately $154 billion in trade. This is expected to continue, with container trade at the port forecast to double over the next 30 years.
VICT chief executive officer Bruno Porchietto said the expansion of the contract term reinforced the company’s long standing commitment to the Port of Melbourne and to the Victorian economy.
He added that extension allows VICT “to continue investing in capacity, systems and people to support the State’s trade requirements over the long term, while providing shipping lines and cargo owners with greater operating continuity and certainty.”
READ: ICTSI’s Victoria Terminal deploys 4 new Kalmar container carriers
ICTSI and partner Anglo Ports Pty Ltd won in 2014 the 26-year concession for the third container terminal in Melbourne, Australia.
On May 2, 2014, VICT signed an agreement with the Port of Melbourne Corp. to design, construct, commission, operate, maintain, and finance the Port of Melbourne’s new international container terminal and empty container park at Webb Dock.
In 2015, ICTSI wholly-owned subsidiary ICTSI Far East Pte Ltd. bought out Anglo Ports’ 10% share in VICT, effectively increasing ICTSI’s stake in the Melbourne terminal from 90% to 100%.
ICTSI said an ongoing investment program due for completion in late 2027 will increase Australia’s first fully automated container terminal’s estimated capacity to 1.6 million twenty-foot equivalent units.
VICT’s Phase 3B expansion is scheduled for completion in 2026 and will include acquisition of another automated ship-to-shore crane, three auto container carriers, four auto stacking cranes, and construction of two additional storage blocks. Recently, the terminal deployed four new Kalmar hybrid automatic container carriers following their commissioning and operational integration over the past several weeks.
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