The Port of Melbourne and Victoria International Container Terminal (VICT) have formalised a 26-year extension of the terminal operating contract for the Webb Dock East facility, extending the arrangement until 2066.
Under the renewed agreement, VICT — a wholly owned subsidiary of International Container Terminal Services Inc. (ICTSI) — will continue to operate and manage the key container terminal at Australia’s busiest cargo hub, with the original lease expiry pushed back from 2040.
The extension comes amid significant long-term investments by ICTSI in the terminal, including plans to install a neo-Panamax ship-to-shore quay crane, hybrid automated straddle carriers, and additional container stacking capacity, with upgrades expected to be completed by late 2027.
Port and terminal officials said the move demonstrates confidence in the future growth of Melbourne’s container trade, which reached record levels and is forecast to continue rising over the coming decades.