The government is now operating in accordance with the Guidance on Caretaker Conventions, pending the outcome of the 2025 federal election.
A multimillion-dollar investment by International Container Terminal Services Inc (ICTSI) will allow the Port of Melbourne to accommodate the world’s largest container vessels and future-proof its operations.
In 2023, Manila-based ICTSI invested A$235 million to expand its Victoria International Container Terminal (VICT) at the Port of Melbourne’s Webb Dock.
The first phase of the expansion, completed in late 2023, increased the terminal’s capacity by 30% to 1.25 million 20-foot equivalent units (TEUs) and widened the quay to 735 metres. This allows the terminal to accommodate two 366-metre vessels simultaneously.
The expansion extended the landside area, adding 3 storage blocks and 15 truck lanes. This will improve booking time and slot availability by up to 30% per hour, according to ICTSI.
VICT has also automated processes to speed processing time, and installed ship-to-shore cranes, auto container cranes and auto stacking cranes to accelerate the transfer of containers from vessels to trucks.
‘This additional investment redefines the Port of Melbourne’s landscape, setting new standards for operational efficiency and capacity,’ says Enrique K. Razon Jr., ICTSI Chairman and President.
‘VICT can now accommodate the largest container vessels calling Australia – the neo-Panamax giants – solidifying the Port of Melbourne’s position as Australia’s number one container port.’
The Port of Melbourne is Australia’s largest general cargo and container port. It handles more than one-third of the nation’s container trade.
ICTSI’s investment will support the Port’s growth. In 2024, the Port achieved the highest annual container trade volume ever recorded. It saw a total of 3.396 million twenty-equivalent units (TEUs) – up more than 9% up 2023 volumes.
The second phase of VICT’s expansion is expected to be finished by 2026.
VICT’s expansion allows the terminal to simultaneously handle two 366-metre vessels.
A long-term commitment to VICT
ICTSI is one of the world’s largest port operators worldwide, with handling facilities in 6 continents.
In May 2014, ICTSI won a 26-year contract to design, construct, commission, operate, maintain and finance VICT, the only fully automated container handling facility in the Southern Hemisphere.
ICTSI has invested more than A$700 million in VICT’s operations, making it one of the largest non-government infrastructure investors in Australia.
How Austrade helped
Austrade has been working with ICTSI since 2014. Over the past 11 years, Austrade has coordinated whole-of-government support to ICTSI as it progressed its investment in VICT. We have also introduced ICTSI to federal and state government representatives, assisted with regulatory issues and provided access to high-level meetings and events to lift ICTSI’s profile.
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